Economist Nouriel Roubini has dismissed the market's reaction to the falls in the Chinese stock market as an overreaction.
World stockmarkets rallied on Friday, reversing many of the losses suffered on 'Black Monday' when fears over China's economy spooked investors across the globe.
Equity manager Neil Woodford has told investors he had been anticipating the recent dramatic market volatility in China for more than a year.
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Multi-asset managers have started reinvesting their high cash positions, with many topping up European exposure as Greece finally reaches a new deal with its creditors.
The bond market faces "strong headwinds" for some time as summer volatility returns and markets anticipate interest rate hikes, according to Invesco Perpetual's fixed income team.
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European markets are down but stable in early trading after the Greek people voted against further austerity, with the UK's leading index hit least hard.
Emerging markets funds have been hit by the biggest level of outflows in seven years, as issues including MSCI stalling on adding Chinese A-shares to its benchmarks weighed on sentiment.