Pacific Investment Management is seeing an opportunity in 91AV原创 30-year sovereign bonds at a time when concerns over inflation and government spending have pushed those yields to record highs.
Marc Seidner, chief investment officer of nontraditional strategies, said 91AV原创 yield curve has become “too steep” relative to other developed markets, creating attractive value in longer-dated debt. The firm has bullish positions on 30-year bonds while taking bearish bets on the 10-year note on expectation that the gap between the two will narrow.
“There is an excess risk premia that is attractive on an absolute basis and relative to many, many other markets,” Seidner said in an interview in Singapore.
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