Roaring reflation forces HSBC, Blackrock, Axa to drop bond bets
The intensifying bond selloff is forcing a rising tally of money managers to scale back market exposures while Wall Street strategists are paring back their bullish playbooks.
By Anchalee Worrachate and William Shaw / BLOOMBERG
Investment firms including Blackrock research arm and Aberdeen Standard Investments are retreating from government bonds.
Strategists have revamped their end-2021 forecasts at the fastest pace in two years. Surging yields have prompted a rethink at HSBC Holdings Plc, where global head of fixed income research Steven Major’s consensus-defying calls on the low-for-longer era have been largely vindicated over the years.
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