High Yielders Pace Emerging-Market Currency Gains, Stocks Jump

(Bloomberg) — Emerging-market currencies were mixed on Tuesday, with high-yielding names outperforming as investors looked past the latest developments in the Middle East and focused on carry trades instead. Colombia and Brazil, which offer some of the highest real interest rates across the developing world, saw their currencies lead gains, even as a broad MSCI Inc. gauge ended the day little changed. “Oil exporters with high carry seem to be outperforming in an environment marked by higher oil prices and US rates,” said Dan Pan, Americas economist at Standard Chartered Bank. “Risk sentiment seems to have improved a bit although…