Michael Hasenstab, the bond manager behind some of the boldest bets of the European debt crisis, has issued a stark call for investors to shun government debt in perceived havens such as the US, UK and Germany.
“If you buy a 10-year treasury in any one of those three countries, is that really a safe asset?” he said in an interview with the Financial Times. “It’s not paying you anything and you have the risk of principal losses when rates rise.”
Mr Hasenstab, who runs Franklin Templeton’s $67bn Global Bond Fund, bet big last year on recoveries in Ireland and Hungary. His fund has been the best performer in its class for the past 10 years, according to Morningstar.
您已阅读44%（669字），剩余56%（854字）包含更多重要信息，订阅以继续探索完整内容，并享受更多专属服务。