Salient to Investors:

Paul Joseph Garcia at BPI Asset Mgmt said any good news from Europe and China will be a buy signal for investors, and is overall net buying.

IMF cut its global growth forecast this year to 3.3 percent, the slowest since the 2009 recession, sees alarmingly high risks of a steeper slowdown, with a one-in-six chance of growth below 2 percent.

Phillipe Langham at RBC Global Asset Mgmt said the big medium-term question is global growth and whether extremely accommodating policy makers is enough to change the dynamics. Langham says no-one believes the problems in Europe are over.

The emerging-markets index is at 12.6 times estimated earnings versus the MSCI World multiple of 15.8.

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