U.S. stocks suffered their worst January in at least seven years last month, as the slump in oil prices, coupled with China's economic slowdown and continued market interventions, roiled global assets.
But Myles Bradshaw, the head of global aggregate fixed income at Amundi, believes markets have been too hasty to call an economic slump and now is the time to buy underpriced riskier assets.
"I think you have got to take a step back — because you can get caught up with the noise of the markets — and ask yourself, fundamentally, what is the outlook for the global economy?" he told CNBC in London.
"Many markets are now pricing in a significant probability of recession and when we talk about recession, we're talking particularly about a U.S. recession. Do you think that is likely or not? To me, the odds are too high; the market is pricing too high a probability."