金融引き締め時の債券投資を

PIMCO Bond

Unconstrained: How Bond Investors Can Embrace Volatility | PIMCO Blog

 

著名の投資家は債券の弱気相場を予想。

PIMCOも中央銀行が主導するlow volatilityは終わったことを宣言。

 

PIMCOが考える債券投資

  • By avoiding certain fixed income exposures - positioning more defensively on duration during periods of rising rates 
  • By investing opportunistically in credit markets - focusing on sectors that offer value and resilence while avoiding exposure to areas that appear overvalued
  • By seeking to take advantage of opportunities in currency and volatility markets.
  • By using the "risk budgest" tactically to seize opportunities in the markets - pivoting to high quality investiments to preserve capital when entry levels are less attractive, and then striking when the iron is hot.

 

今後の戦略 


Short DurationのBSV, inflation-protected BondのVTIPなどがdefensiveな債券投資.
ドル安に賭ける新興国通貨建ての債券 EMLC

 

より金利が上昇したら、より長期のBND, BLVに投資を