CNBC reports that an investment strategist told that investors should look at Asia instead of the U.S. when it comes to stocks and bonds.

“Given the election risk in U.S. and more expensive valuations, I think the Asian markets look more interesting – (there is) strong economic recovery, strong earnings and much cheaper valuations compared to the U.S. equity market,” said Suresh Tantia of Credit Suisse.

Economic data from China has been “quite encouraging,” and the coronavirus pandemic is largely under control in other North Asian markets such as South Korea, Taiwan and Hong Kong, he said.

“That has allowed the economic recovery to continue,” he told CNBC.

Fixed income assets are also more attractive in Asia because spreads are still “much higher” than in the U.S., Tantia said.

“Asian (investment grade) bonds are offering yield of around 3%, compared to 2% yield in the U.S. We think there is slightly higher yield for similar rated companies in Asia,” he said. 

Tantia also said the last quarter of 2020 is likely to be “choppy” for markets, but that investors should buy on dips.