FYI: Rising short-term interest rates in the United States are prompting Lipper Award-winning bond fund managers to add emerging-market debt and non-agency backed residential mortgages that they say offer more potential for gains in the year ahead.
Managers from firms including AllianceBernstein, BlackRock Inc and Thornburg Investment Management are bracing for further rate increases by the Federal Reserve, making U.S. high-yield debt unattractive as highly-leveraged companies and municipalities have a more difficult time rolling over their debt costs.
Regards,
Ted
http://www.reuters.com/article/us-lipperawards-bonds-idUSKBN16V0HJ