Geopolitical risks are rising, leading to declines in both emerging market stocks and currencies

According to Jinshi, emerging market stocks and currencies fell for the second consecutive day, with the MSCI Emerging Markets Stock Index dropping 0.8%, marking the largest decline since mid-December last year. Currencies from Thailand, South Korea, and South Africa led the decline. Bond issuance is experiencing the strongest start on record, with Poland also joining the ranks of countries issuing bonds to take advantage of low borrowing costs. The market is focused on the non-farm payroll data to be released on Friday, which may provide clues about the Federal Reserve's interest rate path. Ian Simmons, a fund manager at Fiera Capital in London, stated that the dollar may continue to weaken.