Expect current rally in EM equities to continue: Citigroup

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Here are experts equity calls for the day on how the markets are expected to trade:

Geoffrey Dennis, Citigroup: We expect the current rally in emerging market (EM) equities to continue. There is 15-20% upside to our year-end target for MSCI GEM Index. The current conditions of ample liquidity, against a background of attractive EM valuations, should remain for some time. We would be buyers of any pullback.

Gregory Peters, Morgan Stanley: We believe it's too late to chase the current rally in risk assets. Sentiment indicators have turned bullish, and investors are now chasing risk in expectation of more QE. The current rally may have a little further to go, but our sense is that a reasonable selling opportunity will appear in a matter of weeks, not months.