Aegon Asset Management's new hire, Stephen Snowden, has warned the Italian bond market could face a Northern Rock-style collapse if investor sentiment weakens further.
Investec's co-head of credit Theo Stamos has left the firm and handed over his responsibilities to other managers.
Recent events in the US have caused another headlong surge into UK gilts for their supposed safe haven status, driving yields down to fresh lows.
Chaos in markets across the globe this week following heavy sell-offs prompted some commentators to warn of a new credit crunch, and left investors desperately seeking safe assets.
Prudential Portfolio Management Group's Andy Brown believes it is not too late to contain the contagion threatened by Greece's default.
Yields on the 10-year gilt have fallen to an all-time low below 2.77% as recessionary fears resurface across the globe.
M&G's head of retail fixed interest Jim Leaviss has warned the US will see its credit rating downgraded to AA shortly after next year's presidential election.