Oct
18
This $40 Billion Fund Beat Aussie Debt Analysts for Second Year
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Mizuho’s Ito Sees 10-Year Yield Falling to 2.4% by year-end
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Economists have spent 2015 warning bond yields would rise
The fund manager who defied economists by betting on Australian bonds in 2014 — and then benefited from 2014’s biggest rally in three years — is giving a repeat performance in 2015.
Yusuke Ito, a senior portfolio manager in Tokyo at Mizuho Asset Management, which has more than $40 billion in assets, says a stagnating economy will ensure demand for the relative safety of the nation’s sovereign debt. Mizuho favors 20-year bonds because the longest maturities gain most in a rally, he said…
This $40 Billion Fund Beat Aussie Debt Analysts for Second Year
