Perennial points to overreaction
Perennial Investment Partners has been promoting the value of its Tactical Income Trust in circumstances where bond rates have entered territory rarely seen over the past 15 years.
According to Perennial’s head of fixed interest Glenn Feben, longer-term bond yields are looking very expensive with the benchmark 10-year bond rate having recently moved below 5 per cent – a level rarely breached over the past 15 years.
He said he believed the local bond market had overreacted to the negative news flow from the US and currently represented poor value, giving rise to the need for a more flexible approach.
AUTHOR
Mike Taylor
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