Johan Jooste is portfolio strategist at Bank of America Corp.'s Merrill Lynch Wealth Management in London. He tells The Wall Street Journal why he prefers emerging-market bonds.

As concerns about country risk increase in Europe, most notably in Greece, investors should look for opportunities in emerging markets, which largely escaped the financial crisis. This is even more the case now that new issuance of bonds in the U.S. and U.K. has resulted in littleupside potential of fixed-income assets in these markets.