Given the nature of the pandemic-led crisis — which saw huge stimulus plans, leading to issuance of longer-term fiscal debt — cash crunch among firms, sovereign or corporate credit risks may take longer to fade than in previous crises.— Reuters pic
“While regional countries are on different parts of their epidemic curves, and equity valuations may look a bit stretched versus the incoming Covid-19 toll on activities and jobs in the second quarter, we think that it may be timely to consider positioning for an eventual market recovery,” it said.On its fixed income outlook, the research house took a neutral stance on Malaysia.
Meanwhile, the research house said the softer oil prices had led to worries over oil-related revenues.
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