Dusseldorf Stock market guru André Kostolany said a long time ago: “If you want to eat well, you buy stocks. If you want to sleep well, you buy bonds.” After all, fixed-income securities are considered a haven for investors in uncertain times. They usually benefit from a bear market in stocks. But not this year. The bond market also had to cope with sharper price losses in the past six months than it has in at least 50 years.
But now the central banks are gradually raising their interest rates. The ECB wants to start doing this in July. The US Federal Reserve has already implemented the first hikes. The bond market thus offers new entrants the prospect of higher returns, as Uwe Pyde, head of bond portfolio management at asset manager Bantleon, explains. In the Handelsblatt Today podcast, the expert talks to host Lena Jesberg about whether at least this principle still applies, what to look out for in bond trading in general and which bonds are currently attractive.
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