By John Godley, head of fixed income at Sarasin Investment Management The corporate bond rally ...
By John Godley, head of fixed income at Sarasin Investment Management The corporate bond rally that started last October has seen spreads on single-A and triple-B rated bonds return to levels not seen since before the LTCM crisis in 1998. I do not believe now is a good time to relax credit underwriting standards and wonder if some of the recent more cyclical spread tightening moves will be reversed later in the year. While we at Sarasin have been very happy to take the excess returns from having an aggressive credit position during the last 10 months, we have chosen not to invest...
To continue reading this article...
Join Investment Week for free
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes