Why Risk Seekers Are Attracted to EM Currencies
Emerging-market stocks and currencies rose for the first time in three days as oil extended a rebound, reviving demand for higher-yielding assets. Vietnam, Indonesia and the Philippines led gains as developing-nation equities rebounded from their biggest-two-day decline in a month. Malaysia’s ringgit jumped the most among emerging currencies as the nation derives 20 percent of its revenue from energy-related sources. Crude climbed above $41 a barrel in New York after entering a bear market earlier this week. The appetite for higher yields is being sustained as futures show the Federal Reserve will refrain from raising interest rates until the middle of 2017. Swissquote Head of Market Strategy Peter Rosenstreich discusses with Bloomberg's Anna Edwards and Manus Cranny on "Countdown."