Historic levels of global indebtedness and rising interest rates were among key topics discussed by credit market experts at this year’s Morningstar Investment Conference, including Payden’s Brad Boyd.
Investors are heading into a period of unease in the fixed income sector. Boyd believes rising interest rates and inflation, and diminished diversification, required investors to increase their creativity around how they achieve fixed income exposure. This includes considering assets other than long-duration government bonds. Referring specifically to government bond index funds, he says “this old umbrella won’t work.”
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