Minerd recommended investors move toward asset-backed securities “and other places where you can get incremental yield without taking the kind of risk that you have to in high yield.”
Ultra-long bonds could be used to help fulfill two of President Donald Trump’s biggest campaign promises: fix the nation’s aging infrastructure with a trillion-dollar spending program and cut taxes at the same time.
Policy makers will deepen their discussion about when and how to pare the central bank’s big bond holdings at a two-day meeting of the Federal Open Market Committee starting Tuesday.