Global fixed-income roundtable: Part 2

If you think Canadian yields are low, check out Germany or Japan.

Sonita Horvitch 21 September, 2016 | 5:00PM

Editor's note: In today's part two of Morningstar's fixed-income roundtable series, the managers discuss the impacts of Brexit and the U.S. election, the rate shock of negative yields, and volatility in corporate bonds.

Our panelists:

Michael McHugh, vice-president and head of fixed-income at 1832 Asset Management L.P. His responsibilities include Dynamic Canadian Bond and Dynamic Advantage Bond.

David Gregoris, managing director, fixed-income at Beutel Goodman & Co. Ltd. His mandates include Beutel Goodman Income, Beutel Goodman Short-Term Bond and Beutel Goodman Long-Term Bond.

David Stonehouse, vice-president and member of the fixed-income team at AGF Investments Inc. He is responsible for a wide range of income-generating mandates including AGF Fixed Income Plus, AGF Diversified Income and AGF Global Convertible Bond.

Morningstar columnist Sonita Horvitch was the panel moderator. Her three-part series began on Monday and concludes on Friday.


Q: Have the major central banks in the developed world exhausted their monetary policy options?

Stonehouse: The European Central Bank is out of bullets. The Bank of England has little room to do more than it already did after the Brexit vote.

McHugh: The Bank of England is likely to sustain this easing bias as the UK navigates through the uncertain consequences of the referendum's vote to exit from the European Union.

David Gregoris
David Gregoris

Securities Mentioned in Article

Security NamePriceChange (%)Morningstar Rating
Canadian Imperial Bank of Commerce109.45 CAD0.56

About Author

Sonita Horvitch

Sonita Horvitch