Emerging market assets rise, reigniting investors' enthusiasm for the prospect of Fed rate cuts

The MSCI Emerging Markets Currency Index rose by 0.1%, with the Brazilian Real leading the way with a 2.16% increase, the largest since November 2022, with the Colombian Peso showing a significant increase. The MSCI Emerging Markets Stock Index rose by 1.2%, marking the largest single-day increase since June 19th, with Tencent Holdings and Taiwan Semiconductor Manufacturing Company leading the gains. On the U.S. market, the iShares MSCI Emerging Markets ETF closed up by 1.47%, while the iShares J.P. Morgan USD Emerging Markets Bond ETF closed up by 0.78%