Banks bullish on credit

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Banks and institutional investors are advising clients to move money into fixed income and, in particular, corporate bonds despite the weak credit environment and low equity valuations. The decision of Sainsbury’s £1.9 billion pension fund to transfer £200 million out of UK equities into global fixed income was further evidence of investor scepticism that equities are set for a rapid rebound.And Jan Loeys, head of credit and rate markets strategy at JPMorgan, is bullish about the long-term p