iShares MSCI Emerging Markets ETF is trading 3% up following a tentative 60-day peace agreement between the U.S. and Iran, which has reopened the Strait of Hormuz and sharply eased global energy and inflation concerns.
- The geopolitical breakthrough has sparked a broad rally across Asian and international markets, lifting emerging-market equities in line with a global risk-on tone.
- Lower oil prices and higher U.S. equity futures are providing additional tailwinds as investors aggressively return to risk assets.