LONDON- Emerging markets are entering a dangerous and more volatile phase, analysts at French bank Societe Generale warned on Thursday, with increasing concerns about softer growth, recessions or even crises.

Though in the short term both EM currencies and bonds are likely to be supported by expectations of U.S. interest rates cuts, the longer-term view looks tough.

"We are entering a dangerous and higher volatility phase for emerging markets," SocGen's analysts said in a new report. "Owning EM assets, especially if just for carry, at this stage of the cycle is playing with fire."

(Reporting by Marc Jones, Editing by Helen Reid) ((; +44 (0)207 542 9033; Reuters Messaging: Twitter @marcjonesrtrs))