Emerging-markets corporate earnings exceed estimates first time in 30 months

Some of the assets most exposed to fears around the spread of the delta variant are luring traders with tempting signals of strength and stability.

Emerging-market corporate earnings have outpaced estimates for the first time in 30 months amid an economic rebound in developing nations.
Meanwhile, MSCI’s index of emerging currencies and stocks both remain up this year, defying the declines seen this month.
Elsewhere, Investors bullish on the U.K. pound have gotten used to brushing off concerns about Covid-19 infections and the post-Brexit future.
Now, a sudden rethink on the global recovery is bringing those worries back into focus.

Sterling is on course for its first back-to-back monthly declines versus the dollar since March 2020 — when the coronavirus became a pandemic and spurred turbulence in markets worldwide — and only its second month of losses versus the euro in almost a year.