The Hunt for Yield in a Negative World
Kathleen Gaffney, whose Eaton Vance Bond Fund is beating all of its peers this year after rebounding from a loss, warned Treasuries may snap back from their record-setting rally. Investors seeking alternatives to negative yields in Japan and Europe gobbled up Treasuries in June and July, sending 10- and 30-year yields to all time-lows. The U.K. vote to leave the European Union fueled the surge by driving money managers to the safest securities. Investors including Morgan Stanley and Bill Gross have warned the best part of the rally may be over. Columbia Threadneedle EMEA CIO Mark Burgess discusses with "On the Move" hosts Anna Edwards in London and Caroline Hyde in Berlin.