What’s an investor to do when everyone from the U.S. Federal Reserve to the International Monetary Fund say they see bubbles developing in markets? The answer, apparently, is to keep buying.
In a global economy that looks increasingly perilous, many central banks are showing a greater appetite to step up stimulus measures that have benefited riskier assets since the financial crisis — the same assets that may lose the most should benchmark interest rates in the U.S. sharply rise.
Analysts at Wall Street firms from Bank of America Corp. to Morgan Stanley (MS) say they see opportunities in speculative-grade debt as investors gain confidence that yields will stay low for longer.
Bloomberg
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