Following the Fed’s dovish U-turn, HNWIs moved away from floating-rate notes but have held on to senior secured fixed income as default risks surge, according to asset manager Barings. Mandy Lui, head of wealth and retail distribution, Greater China and Southeast Asia at Barings, told Asian Private Banker that 12 months ago when markets expected the Fed to raise rates, many…
PBs ditch floaters but hold on to senior secured bonds: Barings
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