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Europe will resemble Japan within a decade, warns Invesco bond manager

While credit spreads still offer a good cushion above where sovereign bonds trade, at some point the cycle will turn against high yield, says fund manager from the large US asset manager. He expects the current asset reallocation from equity into fixed income to continue in 2020.

Invesco's fixed income fund manager speaking at a press conference in London last Thursday. | Photo: PR / INVESCO

Europe's economy will follow that of Japan in the coming five to ten years, says Lyndon Man, who is global co-head of investment grade bonds at US-headquartered asset manager Invesco.

At an exclusive press conference in London last week, Man noted there is already a striking resemblance between Europe and Japan in terms of a prolonged period of low economic growth as well as low inflation.

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