First of all it's a much larger market than what people have experienced in the past so that's a major difference and that's true of emerging Asia.
She mentioned that emerging market corporate debt was currently 25 percent of the market, including many high quality firms, similar to those in developed markets, but trading at a premium yield.
In comparison, U.S. markets offer more uncertainty, including whether U.S. President Donald Trump will deliver key campaign pledges that have boosted equities, including banking stocks.
"Look at what's going on in the U.S. If you think about the moves in the U.S. both in the fixed income and equity markets there's a lot hinging on policy options which may or may not occur. Does tax reform going to happen? What happens to health care? What happens to infrastructure?," Patel said.
Source: Bloomberg
Junior Trader Stefan Panteleev
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