Global Viewpoints: Sovereign Debt – In Sovereign Debt Investing, U.S. Dollar Direction is Critical

(Harvest) In the last of a four-part series on investing in global sovereign debt markets, Portfolio Manager Ryan Myerberg looks at where value can be found.
Slowing growth means bond yields may trend lower in Canada and Australia, while the accelerating U.S. economy coupled with rising inflation could spell higher yields there, especially at the short end of the curve.In Europe, Portugal and Spain present opportunities after emerging from fiscal crises, which could compress yields. Investors may benefit from improving conditions in countries such as Norway, the Czech Republic, Poland and Sweden, regardless of the U.S. dollar’s direction.

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