BlackRock: Why to Beware of Asset Class “Cross-Dressing”
July 29, 2014 at 07:00 AM EDT
The U.S. investment-grade bond market has offered a sub-3% yield for 14 consecutive quarters, as measured by the Barclay’s Aggregate bond index. No wonder investors have lost interest in traditional higher-rated bonds. What has caught their attention instead? Asset class “cross-dressing.” At a time...