Bonds

The FCA has used its consumer protection powers for the first time, banning the sale of contingent convertible securities to the mass market.

EMERGING MARKET DEBT

Bond fund investors should beware a crowded market where there is a growing risk of being caught out by a sharp sell-off in fixed income, analysts at RBS have warned.

The ever-faster treadmill of new issues in high yield gives plenty of scope for letting standards slide. Perhaps it is better to focus on established borrowers, argues Donald Phillips, manager of the Baillie Gifford's High Yield Bond fund.

Investors are entering one of "the most dangerous phases" of the economic and market cycle, Henderson's co-head of multi-asset has warned.

Asian markets still face three key hurdles on their path to recovery, according to Schroders' head of Asian fixed income, Rajeev De Mello.

High yield has caught everyone by surprise this year in two respects.

Baillie Gifford's Stephen Rodger has argued fellow bond managers are unprepared for Japan-style deflation which is on the horizon in the West.

Miserly performance is on the cards for giant bond funds - but Tesco bonds and index-linked gilts stand out, says Charles Stanley investment manager Kris Barclay.

The widely expected rotation from bonds to equities has failed to appear and gilt yields have fallen this year. This is odd, says Newton's Paul Brain, as he argues that bond yields are likely to stay low for a good while yet.