Fed's hawkish turn drives $600m of Asian wealth into short debt, Fidelity’s lead manager says
As central banks resume tightening, James Durance touts 'career-high' yields and daily liquidity to family offices, while warning that a flood of AI-driven debt could trigger a market event.
Asian private investors poured $600 million into a Fidelity short-duration bond fund to chase high yields and escape the turbulence in long-term debt, as a hawkish Federal Reserve and growing geopolitical threats trigger a major migration out of pure cash, the firm’s lead manager says.
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