Inv Perp sees market value returning

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Group's bond heads Read and Causer beginning to put money into markets again after adopting low-risk position

Invesco Perpetual's Paul Read and Paul Causer believe credit markets are offering some value again after adopting their lowest-risk position in several years before the summer. However, while the pair said wider spreads are providing opportunities, they are not expecting a quick snap back in these markets. Read said Moody's expects the default rate to rise to 4% next year and 5% in 2009, and credit market stresses can be expected to continue for several more months. "While we can expect central banks to try to help markets to function, we should not expect them to bail out financial mark...

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