Wells Fargo Says Big Rush to Bonds Has ‘Gotten Ahead of Itself’
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Bond markets are at risk of becoming overheated as investors rush to anticipate a new cycle of global central bank policy easing, according to Wells Fargo & Co.
The big bond-buying trade has “gotten ahead of itself,” particularly in the U.S., George Rusnak, the Wells Fargo Investment Institute co-head of global fixed-income strategy, said in a Bloomberg TV interview. He described pricing for three Federal Reserve interest-rate cuts as too aggressive.