Morgan Stanley Sees ‘Uncomfortable' Rally in Emerging Markets
Emerging-market assets should keep rallying for the rest of the year, but gains will likely be limited by a slowing global economy and US policy uncertainty, according to Morgan Stanley.
The Wall Street bank is predicting that developing currencies will modestly appreciate against the dollar by year-end while lagging some other G-10 currencies. A gauge of emerging-market currencies is up more than 5% this year, the best performance through May since 2017.
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