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Emerging Markets Look to 2021 as Goldman Adds to Bullish Calls

  • Outlook hinges on ‘virus-versus-vaccine trajectory’: Fidelity
  • South Korea, Nigeria, Colombia seen holding interest rates
Construction work in Johannesburg, South Africa, Nov. 12.

Construction work in Johannesburg, South Africa, Nov. 12.

Photographer: Waldo Swiegers/Bloomberg
Updated on

It may come down to another pharmaceutical breakthrough to set the tone for emerging markets headed toward 2021.

Developing-nation stocks, currencies and bonds rose for a third week in the five days through Friday, and maintained their resilience on Monday, as the prospect of a coronavirus vaccine roll-out in the months ahead outweighed concern that rising infections would lead to tougher curbs in the nearer term. Underscoring investor optimism, a measure of implied volatility for currencies is near the lowest in almost four months.