Where to buy bonds in the great debt eradication

Fixed income opportunities

clock • 4 min read

I know what you are thinking, a fixed income manager says “buy bonds”. What a surprise. But actually, I think the opposite. I am not saying “now is the time to buy bonds.” Well, not all bonds.

At the moment investors are facing a debt eradication. Government bonds are unlikely to give investors the yield they need in a time of high inflation. The best they can offer at the moment will still deliver a decrease in value in real terms. And at the other end of the spectrum in the high yield sector, risks of a global recession are likely to kick off a wave of bankruptcies and a pernicious default cycle. Wealth manager sentiment towards bonds reaches highest level since 2009 This is a marked departure from the investment environment of the last decade. Global high-yield ...

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