Morgan Stanley turns bullish on emerging market sovereign debt
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LONDON (Reuters) - Morgan Stanley slapped a buy call on emerging markets sovereign debt on Monday, citing cheap valuations, the prospect of significant policy support and the fact that sell-offs in recent months have created a space for investors to move into.The U.S. investment bank said EM (emerging market) sovereign credit spreads had stabilised at cheap levels, especially against U.S. credit, fund outflows have stopped and issuance has resumed, suggesting that markets have priced in much of..