Coutts Challenges Bond Bears as Hedge Funds Bet on 10-Year Notes
- Fed scheduled to issue minutes of December meeting Wednesday
- Treasuries rise on North Korea bomb test, weaker Chinese yuan
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Coutts & Co., the 300-year-old bank for the wealthy, is challenging the consensus by saying now is not the time to be bearish on Treasuries.
“We wouldn’t look for very much in the way of rate hikes” from the Federal Reserve, Alan Higgins, chief investment officer at the London-based bank, said in an interview Tuesday. “Bond yields will remain low and give you very low returns. But we’d go against the consensus bond-bear-market trend.”