Zhitong Finance APP was informed that as the US economy is expected to have room for expansion, a fund manager of Fidelity International sells most of the US Treasury bonds he managed.
George Efstthopoulos, Singapore to assist Fidelity to manage about $ 3 billion in revenue and growth strategy. He sold most of the 10 -year period he held in December last year last DecemberAnd 30 -year US Treasury bonds.He is now turning to assets that usually perform well during a period of good economic growth to improve returns.
"We expect that the economy will not decline again," said EFSTATHOPOULOS, "Although the possibility of not landing is still small, it has been increasing.In 2024, we may not talk about the Federal Reserve ’s interest rate cuts."
As the US economy is forced to re -consider betting on interest rate cuts, the moreMore than investors expect US Treasury bonds to fall.Some people even speculate that after the recent strong inflation and employment report came out, the Feds next step may be interest rate hikes.
Traders are currently expected that the Fed will be reduced by 25 basis points in 2024, which will start in March this year.Expectation of 150 basis points at interest rate cuts.The bond market reflects the fluctuations in market emotions. Since the beginning of the year, the 10-year US Treasury yield has increased by more than 40 basis points to 4.3%. The remarks of Federal Reserve officials have also strengthened Higher-For-Longers expectations.
In addition, EFSTATHOPOULOS also sells bonds in other developed markets, including British and German Treasury bonds, and at the same time retain some U.S. Treasury opens with inflation and hold Austrian bonds.
EFSTATHOPOULOS said that the US economy is showing "more signs of re -acceleration rather than slowI will not be surprised by the developed market manufacturing PMI in a more expanding field.
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According to the statement of a company, EFSTATHOPOULOS is responsible for managing a number of strategies, including oneOnly global multi -asset growth and revenue funds, the fund rose 5%in the year as of January 31.
In contrast, the Bloomberg Global Aggregate Total Return Index of global investment bonds rose about 0.9%at the same time.The situation shows that the fund fell 2.31%within three years.
Last month, as the Indian stock market soared, EFSTATHOPOULOS made a profit in the stock markets most profitable bullish transaction and turned to the US medium -sized stocks and the Greek stock market.He is also optimistic about banks in Japan.
He said that the strategy is now more optimistic about stocks, and the preference for bond investment portfolios is shortened.
“我们经历了一段大规模的反通胀时期，经济增长似乎还不错，劳动力市场似乎也可以，”他表示，“如果这是我们着陆的地方，那It will be great. "
