The slowing German and French economies have escalated eurozone recessionary fears, and investors should have no holdings in European debt and equity, says TCW's Komal Sri-Kumar.
PIMCO's Andrew Jessop sees opportunities with European and health-care high-yield bonds but also warns of likely lower returns beginning in 2013 given the recent runup.
The European Central Bank has helped soothe short-term sovereign debt worries in Europe, but long-term competiveness must be improved for the crisis to fully fade away, says Morningstar's Dave Sekera.
Any deal to avert the fiscal cliff will modestly hit the economy, but legislators won't allow the worst-case scenario--and subsequent recession--to happen, says Northern Trust chief economist Carl Tannenbaum.
©2012 Morningstar Advisor. All right reserved.