Listen to the voiceover by Vicky Browne, Investment Specialist, as she summarises the key messages delivered by keynote speaker James McAlevey, Head of Global Aggregate and Absolute Return.
At the PCF Markets Summit, James delivered a pivotal keynote titled “A New World of Price‑Sensitive Demand for Fixed Income.”
For more than two decades, central‑bank purchases have insulated global bond markets, producing low volatility, flat yield curves and compressed credit spreads that made defensive fixed income a portfolio staple.
That price‑insensitive back‑stop is now vanishing, ushering in an era where bond prices will react sharply to supply‑demand dynamics and fiscal realities. James warned that high‑quality sovereign and corporate bonds will face a markedly different risk‑return profile, compelling investors to rethink duration, credit quality and active‑management approaches.
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