Asset managers see a return to bonds next year

LONDON: New year investment advice is typically equivocal as so much can go awry over a 12-month period, but there’s rarely been a consensus as clear as a return to bonds for 2023.

By any metric, 2022 has been a torrid time for fixed income. Bonds failed to offset plummeting equities and had one of their worst years in history as central banks ratcheted up interest rates to rein in decades-high inflation amid an energy shock.