Goldman Sachs beskriver i en enkelt graf den historiske udvikling med de lave renter. De amerikanske erhvervsobligationer er for første gang blevet negative. Det betyder, at investorerne mere end nogensinde skal være selektive, når de udvælger obligationer.
Real(ly Low) Yields
Real yields on US investment grade corporate bonds have turned negative for the first time in history, reflecting the combined effects of accommodative monetary policy and a firming in inflation expectations. Against a simultaneous backdrop of all-time high duration, we believe fixed income investors need to be selective as ever.