Many analysts use sovereign ratings as a proxy for country risk, despite the fact they are two distinct risk types, say Marcel Heinrichs and Ivelina Stanoeva at S&P Capital IQ.
Nicholas Brooks, head of research at ETF Securities, said investors may only be mid-stage in a bull market for commodities.
For the past 12 months and much of the past two years, two issues dominated investor mentality, at least when it comes to macro-related thinking: one is the US and the other is Europe.
China will be the most attractive emerging market in the next six to 12 months, according to Conrad Saldanha of Neuberger Berman.