US 10- and 30-year Treasury yields climbed to 24-year highs this week amid
inflation and worries over a large fiscal deficit. Rupert Harrison,
senior adviser and portfolio manager at a large global bond investor, told a TS
Lombard event in London that after the recent sharp rise in yields, valuations
are now “highly attractive.” He said the firm holds some duration exposure and
that bonds would offer allocation and defensive value if tech stocks sell off or
US growth slows.
