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Emerging Markets Are Awash in Confidence
Emerging markets head into the final full week of the first half buoyed by confidence the global liquidity rush will keep risk assets supported even as the Covid-19 pandemic shows not signs of letting up. Developing-nation stocks are approaching their highest level since March, while dollar-denominated bonds have just clocked up an eighth week of gains. The tidal wave of central-bank stimulus sweeping the world and a potential easing of U.S.-China trade tensions have overshadowed concerns that a second wave of the virus will set back economic recovery. “All that matters is that there is so much liquidity that it ... (full story)