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.
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David Gregoris | |
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