Bond Investors' Sway Over UK Makes Gilts a Buy, Fidelity Says
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The bond market holds far greater sway over budget policies in the UK than the US, making gilts more attractive as a result, according to Fidelity International Ltd.
The $900 billion asset manager continues to add to holdings of UK gilts, said Salman Ahmed, Fidelity's global head of macro and strategic asset allocation. He's sticking with his preference for UK debt, despite returns that are lagging Treasuries, and a recent dramatic selloff that underscored the fragility of Britain's public finances.
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