HSBC remains overweight US and emerging markets

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

Garry Evans, HSBC: Given the damage to sentiment in the past few weeks, it is hard to see markets rebounding healthily straight away. The risk that the market turmoil tips the world into a new recession and causes earnings to turn down sharply has risen. We remain overweight US and emerging markets.

Nouriel Roubini, Roubini Global Economics: The recent volatility in global financial markets and sharp equity market correction signal that most advanced economies are on the verge of a double-dip recession. In the past, policy makers could always produce new rabbits from their hats to trigger asset reflation and economic recovery, but now the hat is nearly empty.