Global 10-year bond yields have fallen over the past few weeks not just to very low levels, but in some cases to their lowest levels in history. With increasing uncertainty over a possible ‘Brexit’ vote in the UK, investors are seeking the relative safety of fixed income securities. The result of the UK referendum remains too close to call and until the final outcome is delivered, market volatility will remain. Although bonds look expensive at current levels, in our view, many risks still remain in 2016 with the potential to derail markets and reward fixed income investors. (VIEW LINK)
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