Attractive valuation, but selectivity is required

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• Benchmark for Efficient Asset Allocation
• Market Flash

Flash Update:

The recent round of positive performances in local currency markets has offered investors hope of some recovery after the asset class dropped by 16% between mid-February and mid-May 2022.

Rising yield levels have contributed the most to the underperformance year-to-date, and investors are now hopeful that the current high interest rates and the prospect of lower inflation in the second …

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