At a global level we’ve seen over a decade of nominal bond returns wiped out for the first time since the early 1950s. Therefore this seems a good time to discuss fixed income, and to do so with PGIM Fixed Income, who manage $790 billion in bonds (as of 30/06/22).
At a global level we’ve seen over a decade of nominal bond returns wiped out for the first time since the early 1950s. Therefore this seems a good time to discuss fixed income, and to do so with PGIM Fixed Income, who manage $790 billion in bonds (as of 30/06/22).
In this episode, Greg explains his perspective of the flaws in the 60/40 model, before reviewing the question of whether and where the bond rout has created opportunity across the spectrum. He discusses government, corporate credit, emerging market debt, and index-linked bonds.
He describes why the Fed may remain more hawkish than consensus believes, why restoring “yield” is a good thing, and explains how active fixed income management has delivered more consistent outperformance versus benchmarks (unlike the world of equity management!).
Gregory Peters is a Managing Director and Co-Chief Investment Officer of PGIM Fixed Income. Mr. Peters is also a senior portfolio manager for Core, Long Government/Credit, Core Plus, Absolute Return, and other multi-sector fixed income strategies. Prior to joining the Firm in 2014, Mr. Peters was Morgan Stanley's Global Director of Fixed Income & Economic Research and Chief Global Cross Asset Strategist, responsible for the Firm's macro research and asset allocation strategy. Earlier, he worked at Salomon Smith Barney and the Department of U.S. Treasury. He received a BA in Finance from The College of New Jersey and an MBA from Fordham University. Mr. Peters is a member of the Fixed Income Analyst Society and the Bond Market Association.
The Money Maze Podcast covers views, opinions and recommendations of other investment managers which may not represent the views of PGIM. The views expressed by PGIM is not intended to constitute investment advice, were accurate at the time of recording and are subject to change
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