Some fixed-income instrument are still compelling: EM sovereign debt

English -

11 Feb 2020

We’ll start with a few words on the coronavirus outbreak. We’ll just say that the global equity markets’ resilience (or even complacency) can be explained by various factors: many investors are convinced that this is merely a one-off shock whose impact is still in the air, Trump’s position is strengthening (Iran, agreement with China, disastrous impeachment process and Iowa caucus), corporate earnings are robust, there is a liquidity glut and a well-anchored belief that monetary stimulus will be provided if necessary, and investors are determined to seize any market consolidation opportunity.

Investment strategy

Contact us

Our strategist economists are at your disposal

+33 1 53 42 65 33


France's leading independent research company in macroeconomics and investment strategy.