High yield top bet, says Northern Trust
The risk-return profile of US high-yield fixed income, plus its liquidity, makes it the most attractive asset class for global investors, says strategist James McDonald.
US high-yield bonds and US equities are the most attractive asset classes in the face of continued deleveraging and low interest rates in the West, and slower growth in emerging markets.
James McDonald, senior vice-president and chief investment strategist at Northern Trust in Chicago, yesterday told the audience at AsianInvestor’s seventh annual Asian Investment Summit in Hong Kong that the US was “the fastest tortoise in the race” among developed countries.
The US, Japan and Western…
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