JP Morgan AM strategist flags EM debt risks

Emerging-market bonds and equities have both enjoyed a strong rally this year, but there is a growing feeling that the momentum is fading.   Tai Hui, chief market strategist for Asia at JP Morgan Asset Management, argues that EM stocks have further room to rise, notably consumer names in China, India and Indonesia. Yet he is wary about EM debt, particularly corporate bonds, given their high valuations and high volatility. He is more comfortable with EM sovereign debt, in light o…