Central bank intervention and heightened expectations of a UK rate cut have led investors to abandon "common-sense investing", according to Nomura Asset Management's head of unconstrained fixed income Dickie Hodges.
The manager (pictured) of the $90m Global Dynamic Bond fund, which he launched in January 2015, said "central banks are in a trap they cannot get out of" as markets have already priced in an August rate...
The US dollar is close to peaking and the risks now seem to be on the downside.
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