Investors should be buying fixed-income assets after prices fell amid concern that the Federal Reserve will reduce stimulus, according to Myles Bradshaw, a fund manager at Pacific Investment Management Co. in London.
“The valuations tell you that this is a time to be adding to fixed income rather than trying to follow the crowd out the door,” Bradshaw said in an interview on Bloomberg Television’s “The Pulse” with Guy Johnson. “Because of this technical washout we’re beginning to see value coming back into the bond market.”
Bradshaw sees opportunities for investors to buy debt as real yields, or yields after inflation, rise, he said.
To contact the reporter on this story: Lucy Meakin in London at firstname.lastname@example.org
To contact the editor responsible for this story: Paul Dobson at email@example.com