B · Normal
[Morgan Asset Management Portfolio Manager: Bond duration appears to be at a reasonable valuation level] On September 29, Arjun Vij, a portfolio manager at J.P. Morgan Asset Management, said that after a sharp revaluation of yields, the duration of global government bonds is already at a reasonable valuation level. Yields have undergone significant repricing, shifting from expectations of rate cuts to expectations of further rate hikes. At the same time, we believe real yields are likely to remain structurally higher than they have been over the past decade, reflecting ongoing fiscal deficits, the shift from quantitative easing to quantitative tightening, and high capex needs from artificial intelligence and infrastructure spending.
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