Bond markets have become increasingly volatile over the last couple of years. In the first few months of this year alone, the market has gone from confidently expecting interest rate cuts to an environment where inflation is sticky and rate cuts are in doubt. Bond yields have accordingly jumped again so far in 2024. Active bond management offers investors downside protection and the potential for higher returns, according to Nigel Jenkins, managing director at Payden & Rygel who shared his views with GSFM during a recent visit.

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