Traders Suddenly Dare to Believe in an Emerging-Market Rally
- Turkey, South Africa, Indonesia set to hold interest rates
- The dollar has peaked, supporting emerging markets: Fidelity
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It’s a measure of how the climate has changed so quickly for emerging markets that this week’s interest-rate decision in Turkey, an event that would have had traders on tenterhooks six months ago, is being anticipated with a virtual shrug.
Far from encapsulating the vulnerability of the developing economies as it did last year, the lira’s torrid start to 2019 is doing little to take the sheen off the growing sense of recovery seeping through emerging markets.