Little risk of repeat of double-dip scare: Citi

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

Geoffery Dennis, Citi: With new doubts over US growth and the Fed set to step away from the bond market, EM investors may wish to turn defensive. However, with US yields down 50 bps since February, there is little risk of a repeat of the double-dip scare of last summer. Overall we remain positive.

Jonathan Garner, Morgan Stanley: We continue to expect a difficult absolute and relative returns environment for emerging markets through H1CY11, with somewhat better performance in H2. We also expect consensus forward P/E multiples to remain below long-run average levels while inflation rises and continues. Our Underweights include Mexico, India, Thailand, Chile, Peru, Hungary and Philippines.