But Vivek Tawadey, BNP Paribas global head (Interest Rate Strategy) said different regions would be growing at varying speeds in 2010.
Speaking at a BNP Paribas roadshow on ‘Economic outlook 2010’ in Doha recently, Tawadey said the technical picture for credit remained strong and despite the tightening of credit spreads selective opportunities existed for credit investors. Credit spreads are likely to be less directional and performance will depend on avoiding the minefields.
Tawadey also recommended an ‘overweight strategy’ on bank bonds especially lower tier 2, oil and gas and food retail sectors for this quarter.
