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Emerging markets rise amid falling oil and yields
Emerging financial and currency markets achieved noticeable gains following declines in Treasury yields and falling oil prices, boosted by a recovery in Brazilian stocks after the first round of presidential elections. The MSCI Emerging Markets Index rose for the second consecutive day, with the South African rand strengthening by 0.8% amid a weakening dollar. Meanwhile, the Brazilian real reached its highest level in five months, with expectations of continued gains until the runoff on October 25, amid optimism fueled by the candidate Flávio Bolsonaro's financial easing plan and tax cuts. However, markets remain cautious as bond yields approach their highest levels, concerns persist about France's financial stability, there are forecasts of rising interest rates in India, and the Chilean peso continues its decline, dropping 4% to support the currency.
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