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The $14 Trillion Emerging-Markets Rally Has Big Backing for 2020

  • Trade war, China’s economy remain major drivers in EM survey
  • Ruble overtook real as top FX, Indonesia kept No. 1 bond spot
Luxury Home Sales Boom In Sao Paulo
Photographer: Victor Moriyama/Bloomberg
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Emerging markets are about to embark on another year of wealth creation after adding $14 trillion to investor portfolios in the past decade.

Developing-nation assets will outperform their developed peers, with Asia having the best prospects, according to Bloomberg’s survey of 57 global investors, strategists and traders on their outlook for next year. Total wealth in emerging-market stocks and bonds now exceeds $27 trillion, bigger than the economies of the U.S. and Germany combined.