Time to Think Beyond Bonds, says JPMorgan

Negative yields and low interest rates have changed the investing rules, US asset manager says, advising investors to look elsewhere for returns

James Gard 12 November, 2019 | 2:29PM

mind the gap

It’s time to rethink the role of bonds in a portfolio, according to JPMorgan, particularly in the era of “lower for longer” interest rates and negative yields.

While fixed-income assets can still be relied on for capital protection in times of market stress, they can no longer be seen as “safe haven” or reliable income investments, argue chief market strategist Karen Ward and John Bilton, head of global multi-asset strategy.

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James Gard  is content editor for Morningstar.co.uk

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