BofA’s Hartnett Says EM Stocks Will Outperform Everything Else

Emerging-market stocks are “the next bull market” as they benefit from a weaker dollar and an economic recovery in China, according to Bank of America Corp.’s Michael Hartnett.

The MSCI Emerging Markets Index excluding China is up 20% from April lows and is set to break out of a 20-year trading range. The benchmark is up about 7% this year as investors seek alternatives to US assets, while S&P 500 is barely changed.