Markets to stay volatile, as coronavirus fears dampen EM growth, says Bluebay

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Fears over the coronavirus outbreak will drive volatility in global markets for some time, according to BlueBay Asset Management, which suggested re-orientating portfolios away from cyclicals and towards duration and carry.

Emerging markets has seen a particular squeeze over the past week, with EM equity down some 5 per cent at one point as the S&P dipped 2 per cent, BlueBay observed in a research note.

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