November Brings Best Gains in Years to Emerging Markets
- Equities beat US peers by the most since financial crisis
- Currencies recorded their strongest performance since 2016
A trader looks at computer screens displaying the stock market index.
Photographer: Thomas Lohnes/Getty Images
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November has given a glimpse of the outperformance that emerging markets can deliver in the post-stimulus world as the maturing phase of Federal Reserve tightening focuses investors’ minds on the opportunities beyond.
Stocks, currencies and local bonds in developing nations rallied this month by the most since March 2016, a period that heralded the biggest gains since the commodity boom of the early 2000s. That helped the benchmark gauge for emerging-market equities to surpass the S&P 500 Index by the most since the global financial crisis, while dollar-denominated bonds advanced the most since then.