Hasenstab doubles down on his global bond gamble
At the height of the crash, US investor Michael Hasenstab made billions off Irish bonds. Will his strategy of shorting treasuries pay off again?
Few investors have been punished harder for being on the wrong side of plummeting bond yields than Michael Hasenstab, best known in Ireland for making a €5.6 billion return on the country’s bonds at the height of the financial crisis. He manages funds with total assets of about $115 billion at Franklin Templeton, including its global bond fund.
The flip side of falling yields and interest rates has been a rally in the ...
