Jim Leaviss

Jim Leaviss, head of retail fixed income at M&G, has removed his short position on the yen in his £688m Global Macro Bond fund following the dramatic sell-off in the Japanese currency.

IS STERLING OVERVALUED?

M&G's co-head of fixed income Jim Leaviss has warned the UK could face losing its AAA rating on 5 December, the day of the Autumn Statement, as the growing budget deficit could force George Osborne to abandon plans for fiscal consolidation.

M&G's Michael Riddell has put 10% of his International Sovereign Bond fund portfolio in Italian government bonds in anticipation of a fresh liquidity injection from the European Central Bank.

The UK is increasingly likely to lose its AAA credit rating - but this may not spell disaster for the domestic bond market, according to M&G's Jim Leaviss.

CONTRARIAN

THE GREEK 'DEFAULT'

CONTRARIAN

If Greece leaves the euro, banks across the Continent will suffer "horrifying" consequences, with a run on banks worse than anything seen before, said M&G's bond star Jim Leaviss.

M&G has promoted recent hire James Tomlins to lead manager on its European High Yield Bond fund.