Three-Decade Bond Veteran Warns Against Big Bets on Inflation
- Insight’s Lee is skeptical that rising prices are sustainable
- Three-decade veteran exits overweight inflation-linked bonds
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Isobel Lee has experienced some of the toughest fixed-income markets, from the end of the Cold War to the global financial crisis, and she has two words of advice for those trying to navigate a messy global exit from the pandemic: “Be humble.”
“We’re mindful that this is an unprecedented situation -- none of us have ever seen it,” said the London-based head of global government portfolios at Insight Investment, a $1 trillion asset manager. “So we need to be humble and appreciate that your judgment may be wrong.”