economy

March 9, 2026

Investors should raise their bond allocations, says JPMorgan’s head of global fixed income. Where he’s investing

Investors have been under-allocated to bonds, says JPMorgan Asset Management's Bob Michele. Why it's time to buy now and where he sees opportunities.

Investors should raise their bond allocations, says JPMorgan’s head of global fixed income. Where he’s investing

TL;DR

  • Investors should increase their bond allocations as yields are attractive and provide a counterbalance to equities.
  • Portfolios remain lopsided due to recent stock market rallies, making fixed income an important diversification tool.
  • JPMorgan is investing across the credit market, including investment-grade corporates, high yield, and securitized credit, while being underweight Treasurys.
  • Agency mortgage-backed securities are seen as having tailwinds due to reduced refinancing and potential government/bank purchases.
  • Emerging markets in Latin America and Eastern Europe offer high real yields and appeal due to effective economic management.

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