LONDON – Morgan Stanley has become the latest Wall Street bank to turn bullish on local emerging to market bonds, though its strategists said they remained wary of developing economies' currencies in the face of a dollar that is set to remain strong. 'We upgrade our stance on EM local currency bonds to bullish, where we have held a neutral stance for much of the year,' Morgan Stanley strategist James Lord said in a note to clients dated Friday. 'EM rate cuts are on their way, ahead of the Fed,' said Lord in the bank's emerging markets mid-year outlook note titled 'it's all downhill from here' and distributed on Monday.

https://business.inquirer.net/405126/morgan-stanley-jpmorgan-turn-bullish-on-emerging-market-local-bonds

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