Bulls will retain the upper hand in emerging markets in 2018, though some assets may face a bumpier ride than in 2017. Bonds and equities in developing countries will continue to streak ahead, outpacing their developed-nation peers, according to a Bloomberg survey of 20 investors, traders and strategists. Currencies, however, may struggle to stay in front. The survey was conducted from December 5-14. And while the Federal Reserve’s actions will remain key in determining the fate of what has been the strongest equity rally for emerging-market stocks since 2009, geopolitical risks will be less of a focus as investors zero in on Donald Trump and the outlook for the world’s second-largest economy, China. "The environment for emerging markets was great in 2017 with the Goldilocks factors of economic growth and low inflation in industrialised countries," said Hideo Shimomura, chief fund manager in Tokyo at Mitsubishi UFJ Kokusai Asset Management, which oversees the equivalent of $114bn. "...
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