Hedge Fund Says Bonds Close to ‘Tipping Point’ After Debt Binge
- Euphoria around central banks well priced in, Man Group says
- Hedge fund joins others in warning about markets turning
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The deluge of debt sold around the world is raising risks for bond buyers, according to Man Group Plc, the world’s largest publicly listed hedge fund firm.
Companies around the globe have sold over $2 trillion of bonds this year, a 56% jump from the same period last year and a record tally, according to Bloomberg-compiled data. With Covid-19 wreaking havoc on the global economy, government and state-related agencies have also raised $1.6 trillion this year to fund stimulus spending, the most since 2009, the data showed.