198. Why even inflation-linked bonds are letting you down

Dickie Hodges, manager of Nomura Global Dynamic Bond (https://www.fundcalibre.com/elite-fun...) fund, gives listeners an explanation as to why all bonds – including inflation-linked bonds – have had negative returns this year. In a very frank and educational podcast, he explains how the current environment is impacting bonds, gives his view on how high interest rates could go, and whether it’s a matter of when, not if, a recession begins. Dickie ends the podcast with some thoughts on what bond investor could expect in 2023 and 2024 and reveals what has happened to the Russian bonds the fund held earlier this year.

What's covered in this episode: 

• Why bond returns have been negative this year
• If bond markets could fall further
• Why inflation-linked bonds have also let down investors
• How high interest rates could go in the UK and US
• If recession is likely in the UK and US
• Why it’s a certainty that Europe will go into recession
• If we could see a repeat of the European Sovereign Debt Crisis
• Why it’s difficult to value assets in this environment
• Why 2023 and 2024 could be good opportunities for bond investors
• What has happened to the Russian bonds the fund held earlier this year


More about the fund:
Nomura Global Dynamic Bond (https://www.fundcalibre.com/elite-fun...) is an unconstrained strategic bond fund, with a focus on total returns. It is managed by the charismatic Richard ‘Dickie’ Hodges, who blends two approaches when building his portfolio. First, he studies the state of the global economy and identifies which sectors and investment themes look most attractive. He then undertakes fundamental analysis, to populate his preferred areas with ideas. Dickie invests in the entire range of bond sectors including government bonds, corporate bonds, emerging market bonds and inflation-linked bonds.

Learn more on fundcalibre.com (https://www.fundcalibre.com/)

Please remember, we’ve been discussing individual companies to bring investing to life for you. It’s not a recommendation to buy or sell. The fund may or may not still hold these companies at the time of listening. Elite Ratings are based on FundCalibre’s research methodology and are the opinion of FundCalibre’s research team only.


Learn more on fundcalibre.com (https://www.fundcalibre.com/)

Please remember, we’ve been discussing individual companies to bring investing to life for you. It’s not a recommendation to buy or sell. The fund may or may not still hold these companies at the time of listening. Elite Ratings are based on FundCalibre’s research methodology and are the opinion of FundCalibre’s research team only.