Salient to Investors:

David Gaud at Edmond de Rothschild Asset Mgmt said more and more central banks are easing monetary policy, and since bonds have been mostly held by global investors, it makes sense to start seeing spill-over into the equity side which as an asset class is very cheap on a relative basis – there is a valuation case for Asia.

The IMF said world growth will expand 3.3 percent this year, the slowest pace since the 2009 recession, and 3.6 percent next year.

The Asian benchmark equity gauge is at 12.8 times estimated earnings versus 13.9 times for the S&P 500 and 12.1 times for the Stoxx Europe 600 Index.

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