Jupiter's Harry Richards avoids US Treasuries as yields rise
Summary
Some of the world’s largest investment funds are turning towards US Treasuries as yields reach multi-decade highs, reflecting a shift in market sentiment. However, Harry Richards of Jupiter is opting out of this trend, choosing to avoid US government bonds while many peers are attracted by the rising yields. This suggests a divergence in fund positioning, with some asset managers deliberately steering clear of Treasuries despite their growing appeal among rivals.
Analysis
Jupiter: Jupiter is a UK-based asset management firm that manages portfolios across equities, fixed income, and other asset classes for institutional and retail investors. In the current news, the firm’s Harry Richards stands out by avoiding US Treasuries at a time when many large funds are increasing exposure. US Treasuries: US Treasuries are debt securities issued by the United States Department of the Treasury and widely regarded as benchmark safe assets. The news highlights that many major global funds are adding to holdings of these securities as yields reach elevated levels. Harry Richards: Harry Richards is an investment professional at Jupiter Asset Management focused on fixed-income strategies. He is cited in the news for his decision not to participate in the current wave of buying US Treasuries despite rising yields attracting competitors. Fund Positioning: Some asset managers are deliberately avoiding US Treasuries even as peers warm to the asset class. Market Sentiment: Major global investment funds are increasing allocations to US government bonds amid climbing yields.
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macropoliticsrwa