Global bonds can support portfolio diversification while benefiting from varying global economic conditions, according to Michael Hasenstab, senior vice president and portfolio manager, Franklin Templeton Fixed Income Group.
Hasenstab asserted that the current environment provided bond investors with the prospects to weather downturns in particular markets, reduce volatility and participate in selective currency and interest rate opportunities. He said: "The number of countries opening their capital markets in recent years has significantly broadened the global fixed income universe - there are now over 100 countries with fully or partially functioning bond or currency markets. This larger opportunity set involves not only geographic expansion, but also new instruments that can provide specialised exposures....
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