Get China right, get emerging markets right

Giordano Lombardo, CIO of Pioneer Investments, says comparisons between China now and the US pre-2008 are off the mark.
Giordano Lombardo
Giordano Lombardo

You say US interest rates will remain negative in real terms. That must apply to Europe as well

Even more so the current stance of monetary policy is insufficient. Growth is anaemic, inflation is very low. The European Central Bank has been unwilling to buy government bonds and the market does not expect it to do so, but we think it will.

That might give European equities an upward surprise. We’ve been long for two years but it’s become a crowded space. For us to have faith in Europe’s recovery requires the ECB surprising the market with action, not just rhetoric.

Are you long...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222