Despite the risks of Donald Trump’s aggressive protectionist agenda, the mood among policymakers and central bankers at the Conference for Emerging Market Economies in AlUla, Saudi Arabia, this week was cautiously upbeat. Assets across the ragtag grouping of economies have been on a tear. Last year, benchmark equity indices in countries including South Korea, Poland and Vietnam more than doubled the S&P 500’s 16 per cent gain. Returns on local-currency bonds and sovereign credit outpaced developed markets too. The rally has rolled on into 2026.
尽管美国总统唐纳德•特朗普(Donald Trump)的激进保护主义议程带来风险，但本周在沙特阿拉伯乌拉举行的“新兴市场manbetx20客户端下载 体会议”(Conference for Emerging Market Economies)上，决策者与央行官员的情绪仍然谨慎乐观。这个杂乱阵营的资产一路飙升。去年，韩国、波兰和越南等国的基准股指涨幅较标普500指数(S&P 500)的16%甚至翻倍有余。本币债与主权信用的回报也跑赢发达市场。涨势已延续至2026年。