Bull run in Emerging Markets

Emerging markets experienced a bull run as Russian stocks hit a record high and Brazilian EM FX and bond gains reached a two-year peak.

The MSCI Emerging Markets Index reached another one-year high in its rally since January gained past 33 per cent.

In addition, South Korea's won hit a 15-month high, along with Mexico's peso at its highest since May earlier this year.

"It's summer, it's quiet and the market is rallying these are the important things. We are basically now waiting for a wall of (bond) issuance in early September and you have to say the environment is perfect," said Aberdeen Asset Management's Viktor Szabo.

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Read more at Reuters.