For much of the last decade, bonds were treated as the dull ballast of global portfolios—necessary, stabilizing, and chronically underwhelming. In a world obsessed with equity upside, private credit spreads, and venture-style payoff curves, fixed income quietly faded into the background. That perception has changed sharply.
In today’s market, bonds are no longer just about clipping coupons. They have become the raw material for sophisticated leverage strategies that, when executed carefully,...
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