- Alongside rallying emerging market equities is a comeback for their currencies as investors grow comfortable with the taper. Also at work is tighter monetary policy in the emerging markets - Turkey, South Africa, and Russia have all boosted rates this year, and Brazil is nearing the end of a year-long rate hike cycle.
- "The appeal of the carry trade has returned. Emergency measures by emerging market central banks have rendered yields much higher, and hence emerging market currencies are much more attractive to hold," says SocGen's Phoenix Kalen.
- ETFs: CYB, CNY, BZF, CEW, ICN, INR, FXCH, INCO, AYT, PGD, JEM