Investors should short government bonds with higher interest rates now being 'inevitable' around the world, a strategist has advised.
The moves in the European bond market came after hawkish comments from Klaas Knot, president of the Dutch central bank and a member of the European Central Bank's Governing Council, on Sunday.Traders work on the floor of the New York Stock Exchange on December 08, 2021 in New York City.Investors should short government bonds with higher interest rates now being "inevitable" around the world, a strategist has advised.
Speaking to CNBC's "Squawk Box Europe" on Monday, David Roche, president and global strategist at Independent Strategy, shared his fixed income outlook amid an uncertain economic climate. "In terms of bonds alone, my stance is that I would be short the whole lot of them," he said. "Short [German] bunds, which have now got a positive yield, short BTPs in Italy and short U.S. Treasurys ... I would say I would most certainly be short [U.K.] gilts too because we're going to see quite a phenomenal inflationary spiral in the U.K."
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