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Investor risk appetite damaged, says Standard Asset Management

Standard Asset Management says that while it does not foresee a US or global recession, the weakness in financial markets has damaged investor risk appetite.

Standard Asset Management Emerging Market Debt Portfolio Manager Alia Yousuf says it is hard to see markets recovering to the levels of several months ago over the sort term.

He says: “While broad economic and corporate health remains good, the downturn in the US housing market and generally stricter lending standards will likely weigh both upon economic performance and investor confidence going forward. That being said, at current levels, the market has likely discounted much of any worst-case scenario.

“With this in mind, we see current spreads on emerging market corporate and sovereign bonds as offering reasonable medium term value, although we remain somewhat cautious at present as we expect some short term volatility.”

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