The Case For US Treasuries
“The areas of consensus shift unbelievably fast; the bubbles of certainty are constantly exploding.” – REM KOOLHAS, RENOWNED DUTCH ARCHITECT AND HARVARD UNIVERSITY PROFESSOR
Summary
- While conventional wisdom suggests that US government bond yields have nowhere to go but up, we believe the economic fundamentals will continue to weigh on interest rates for the foreseeable future.
- Given their ability to appreciate during periods of market stress, US Treasury bonds (1) continue to play a critical role in any diversified portfolio, and (2) represent an actionable opportunity as the threat of risk aversion rises around the world.
- US Treasury bonds are one of our largest portfolio positions at Evergreen GaveKal based on the conviction that they can generate attractive capital gains...
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