Emerging-Market ETF Rallies as Brazil’s Real Leads Gains - Bloomberg

Emerging-Market ETF Rallies as Brazil’s Real Leads Gains - Bloomberg:



"The iShares MSCI Emerging Markets Index rose to a one-month high as better-than-estimated growth in Brazil bolstered optimism the global economy is recovering. The real led gains among the world’s major currencies. 




The exchange-traded fund climbed 1.9 percent to $39.75 at the close in New York, while the MSCI Emerging Markets Index added 0.7 percent to 963.23. Brazil’s Ibovespa rallied 2.2 percent as iron-ore producer Vale SA (VALE) surged, while the real jumped to a two-month high. China’s swaps had the biggest drop in eight months as the central bank signaled cash supply is adequate. Russia’s ruble fell to a record as the nation began military exercises amid deepening tensions in Ukraine.



Brazilian shares led gains in major emerging-market equity gauges after data showed the economy in the fourth quarter grew more than forecast as an increase in investment offset a drop in industrial production. Federal Reserve Chair Janet Yellen said the central bank is likely to keep its strategy of gradually trimming bond buying even as policy makers monitor data to determine if the weakness in the economy is temporary."



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