By Jenna Barnard, CFA
Foreign bonds can offer diversification benefits, but many non-U.S. developed markets offer subpar yields. Jenna Barnard, Co-Head of Strategic Fixed Income, argues how this seeming disadvantage can be turned into a benefit for U.S. dollar-based bond strategies that practice currency hedging.
We believe the divergence in interest rate policy across the developed world since 2014 has been a prime opportunity for global bond managers to differentiate themselves and pick the "best" countries in which to gain duration exposure.1 Over this five-year period, central banks in Europe, Japan and Australia have