ings-bond-team-recommends-investors-take-risk

ING's bond team recommends investors take risk

INGÆs Asian dollar bond team predicts a harder sell for its emerging market strategy in 2007 but continues to target riskier assets.
One year ago, ING Securities said the economic outlook was the most positive it had ever seen and as a result moved to target the riskier end of the fixed-interest spectrum. Now ING says 2007 will be similar and that investors should remain in higher-risk positions.

One the sovereign debt front, according to Singapore-based managing director and head of Asian research Tim Condon, Pakistan is the most appealing market. ôPakistan underperformed Taiwan, Indonesia and Vietnam in the aftermath of the mid-year sell off,ö he says. ôThe yield spread on 10 and 20-year risk has converged to 25 basis points and we are over-weight Pakistan 2016s and 2036s.ö

The firm also recommends the Philippines over Vietnam....
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