GSFM’s Stephen Miller writes for the Australian Financial Review’s ‘Market Minds’ column. He looks at the ‘new guard’ of bond managers and their reasons for pessimism in the current environment.

“At its extreme, this morphs into a view that the negative bond/equity return correlation that has characterised the period since the tech wreck, or the onset of the Greenspan put, reverts to the positive correlation that characterised the last 35 years of the 20th century.

But to retain our pessimistic hue, the new generation suggests that this positive correlation comes about in the worst possible way: both bond and equity markets deliver negative returns.”
To read the article, click here.
GSFM

GSFM focuses on creating strong alliances with high calibre investment managers, in Australia and overseas, which offer quality investment strategies not available to Australian retail and institutional investors. Today, our portfolio spans global, Australian and Asian equities, fixed income and private credit, as well as alternative strategies.

Information provided is general information and is for educational purposes only, and does not include, or constitute as, financial product advice.