[SINGAPORE] Fears of an interest rate hike are still overdone, said asset manager Amundi's group chief investment officer Pascal Blanque.
He said stagnating economic growth in the West and excess liquidity in Europe and Japan will mean continued low rates and thus, higher asset prices. For example, equilibrium real estate prices and price-earning ratios will be higher.
"Valuations are less stretched today than we may fear," he said.
But a low-growth world will mean lower returns, and investors have...