Ex Post Facto

Franklin Templeton, which made its clients a fortune by investing in Irish sovereign debt, is warning clients to stay away from `safe haven' bonds because of their poor yields.

13th April, 2013
Michael Hasenstab: fixed-income fund manager at Franklin Templeton Investments.

Hasenstab stops playing it safe

Franklin Templeton Investments, the investment firm whose star fixed income fund manager, Michael Hasenstab made his clients a fortune by investing in Irish sovereign debt when few others would touch it, is now warning its clients away from 'safe haven'” bonds because of their poor yields.

This is part of the great rotation theme in markets whereby once-skittish investors who sheltered in German bunds, US treasuries and British gilts...

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