The COVID-19 pandemic recovery remains non-linear across developed and emerging economies leading to a patchy outlook for bond and equity markets, but pockets of opportunity remain, according to GSFM and its fund manager partners Payden & Rygel, Munro Investment Partners and Redpoint Investment Management.
Payden & Rygel director, Eric Souders, says the next phase in the COVID-19 economic recovery will be in developing parts of the world.
“We expect this phase to begin during the latter part of this year, with encouraging data points already occurring and a continued belief that we will continue to see vaccine diplomacy expand to smaller, poorer countries.
“From a bond market perspective some attractive opportunity remains in securitised credit. In addition, an opportunity also lies within emerging market debt – which we are preparing for now – as we believe the market will begin to price in this opportunity before year-end.
The views expressed are her own and do not consider the circumstances of any investor.
