RIO DE JANEIRO, BRAZIL - The markets are unprepared for the severity of the consequences of the global spread of the coronavirus, and the turbulence has only just begun, according to a manager whose portfolio outperforms its peers.
The alert was sounded by Mike Riddell, manager of Allianz Global Investors, who manages US$4.7 billion for the company.
"The market's repricing speed was obviously drastic; however, the markets switched from not pricing any risk at all to a moderate risk," Riddell said in a phone interview. "We think the markets can still move in volatility. "
Riddell's Strategic Bond . . .