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Rob Waldner Benedicte Gravrand, Opalesque Geneva: Paul Singer, founder of US hedge fund firm Elliott Management, said in a recent investor letter that the bond market is "broken," and the central bank actions of recent years no longer defend against a market downturn.
So what should investors expect from bonds, and how should they allocate? A tricky question as we are in the midst of a low yields, low interest rates environment, which many think is here for a good long while. Several experts examine the fixed income landscape.
Emerging markets driving global markets
Given the adequate level of GDP growth in developed markets and China, the current level of interest rates is not justified, says Rob Waldner, chief strategist at US investment management company Invesco during a webcast presentation on fixed income trends hosted by Pershing Square, a New York-based hedge fund management firm founded and run by Bill Ackman.
What’s going on in emerging markets (EM) is the real drive and force behind what you see across all markets, he explains. EM growth recovery is weak, constrained by debt and global uncertainty. There is a classic EM debt cycle going on, which is much longer and persistent than other economic cycles. It is weighing o...................... To view our full article Click here
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