Emerging-market equities swung Friday after US and Israeli efforts eased Iran
war fears, sending oil down from near-four-year highs. MSCI EM index fluctuated
following Thursday’s 2.7% drop, while EM currencies rose 0.2%, both set for
weekly gains. Barclays’ Mitul Kotecha noted market calm is fragile amid volatile
news. Oil eased after Trump ruled out ground troops and Netanyahu pledged no
further strikes on Iranian energy facilities, following missile damage to
Qatar’s Ras Laffan LNG hub. Reduced Fed easing expectations also weighed on
sentiment.