(Bloomberg) -- Emerging markets are gearing up to ride a risk rally in the final full week of December, with a troika of uncertainties all but lifted from traders’ radars.There’ll be plenty of caution around, though.While last week’s meeting of the U.S. Federal Reserve and the U.K. election have been removed from the list of worries, there are sufficient doubts about the progress of the U.S.-China trade negotiations to keep buyers away. And if there’s anything to be gleaned from expected volatility in the Chinese currency, the skeptics are legion. Options-implied one-year volatility for the offshore yuan stood at 5.05% on Friday, above the roughly 4.5% in April and July, a time when traders saw a trade deal as imminent.While Washington and Beijing agreed the first phase of a trade deal on Friday that will see the U.S. reduce some tariffs and China increase agricultural purchases, broader problems between the world’s...
