Cowley favours US long-dated

He called on investors to look at both numbers and economics when making forecasts having come to his conclusion on US bonds through assessing the markets and hedging costs. His recommendation comes following the release of the UK broad money supply numbers revealing borrowing was growing at a rate not seen in 20 years. While the growth in the 1980s was down to there being too few goods, today it is down to us being deluged with cheap imports from around the world, Cowley said. Instead of causing prices to rise, more money made producers compete for our attention by lowering prices...