Economics
Templeton Bond Guru Sees Pain Coming for Complacent Traders
- Hasenstab sees rising U.S. rates as top risk for many traders
- Templeton has negative duration in U.S. as Fed liftoff looms
Templeton's Hasenstab: Opportunities in Emerging Markets
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Franklin Templeton’s Michael Hasenstab says his bond-market peers aren’t prepared for higher U.S. interest rates.
“A lot of investors have gotten very complacent and comfortable with the idea that there’s global deflation and you can go long rates forever,” Hasenstab, whose flagship Templeton Global Bond Fund sits atop Morningstar Inc.’s 10-year performance ranking, said in an interview on Bloomberg Television. “When that reverses, there will be a lot of pain in many of the bond markets.”