Swiss Jiasheng Bank: Maintaining a “slight increase in holdings” rating, optimistic that there are more mature markets than emerging markets

The Zhitong Finance App learned that Claudio Wewel, a foreign exchange strategist at Switzerland's Jiasheng Bank, said that increased fluctuations in global financial markets, renewed upward pressure on energy prices, and heightened fiscal concerns put pressure on the market risk appetite in October. However, nominal economic growth remained high, and corporate profits continued to improve, continuing to provide a favorable environment for risky assets. As a result, the stock currently maintains a “slight increase in holdings” rating, and continues to be optimistic about mature markets over emerging markets.

The bank said it maintains a “slight reduction in holdings” rating for bonds, but has taken advantage of recent interest rate increases to slightly reduce its holdings of emerging market government bonds and increase its holdings of high-yield bonds accordingly. The latter's credit spreads have widened slightly recently. The allocation of alternative investments remained unchanged, and the “slightly reduced holdings” rating continued.