Bond Outlook [by bridport & cie, January 7th 2009]
The recommendation we began making as early as October last year to move into high quality corporate bonds, mainly industrial, has now become common currency, even being a front-page recommendation of the Financial Times yesterday. As spreads on such bonds have already tightened significantly, much of the potential has already gone. Nevertheless corporate bonds remain the most appropriate home for the proceeds from sales of government bonds, whose bubble-qualities remain. |
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