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Geopolitical risk intensifies, emerging market stocks and currencies both decline
Emerging market stocks and currencies declined for two consecutive days, with the MSCI Emerging Markets Index falling 0.8%, marking the largest drop since last year. Currencies in Thailand, South Korea, and South Africa performed poorly, while bond issuance saw a strong start. The market is focused on the upcoming non-farm payrolls data to gauge the Federal Reserve's interest rate trajectory.
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