A Fidelity International money manager has sold the vast majority of US Treasuries from funds he oversees on expectations the world’s biggest economy still has room to expand.
Investment grade bonds from select emerging market sovereigns are solid defensive bets if the US slips into recession and China’s economy worsens, according to Vanguard Asset Services.
The dollar has defied predictions of a prolonged slump since at least the beginning of the year but top money managers say it’s now on borrowed time as US exceptionalism wanes.
