A growing number of professional investors are warning that bonds are overvalued as fears grow that a fixed income bubble will collapse in a disorderly sell-off.
Four out of five fund managers said bonds were overvalued in a survey of 300 global managers by CFA UK. Corporate bonds are more overvalued than ever before, while government bonds are the most overvalued asset class, the group said.
The group, which represents 11,000 investment professionals, says their valuations index, which has been running for three years, is in effect flashing red over the high valuations of bonds.
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