HALISTER1: Rothschild Asset Management Favors EM, High Yield Bonds

Rothschild Asset Management Favors EM, High Yield Bonds

(Bloomberg) -- Edmond de Rothschild Asset Management favors EM hard and local currency debt on expectations of no Fed rate hike in coming months, CIO Philippe Uzan says in emailed comments.
  • Uzan also favors European corporate bonds and high yield debt
  • “The Brexit impact is supposed to have a negative impact on European growth, by 0.5% next year, suggesting that instead of a slight acceleration, European growth will decelerate somewhat, which is more a bad news for equities than for corporates,” he says
    • “The ECB is clearly providing to the market a corporate bond floor with its QE. Even if the central bank buys only IG bonds, the better rated part of the HY market benefits from it.”
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Source: BFW (Bloomberg First Word)

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Philippe Uzan (Edmond De Rothschild Asset Management SAS)

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