Time to become less bullish, says manager
We bond investors are often characterised as a gloomy bunch, fretting over inflation and keeping an anxious eye on central banks. That is, of course, a gross simplification, James Foster, co-manager of the Artemis Monthly Distribution fund.
Investors have plenty of reasons to be pessimistic and fearful of the corporate credit markets today, but there are bright spots as some energy company fundamentals are downgraded to junk*.
Said likelihood of recession is around 25%
Harvey managed £150.4m European Bond fund
While developed market government yields may be at near record lows, volatility is not. We feel there is little compensation for that volatility - last summer's back-up in yields being a good example of the risk of playing the 'low for longer' game.