Loomis Sayles, GAM, and Standish are among those who say U.S. investment grade and high yield corporate bond prices have gone too far, making returns less compelling. They're aiming to get ahead of a market reversal that could be unpleasant once the Fed starts raising interest rates, probably next year. "Valuations are getting stretched," said Jack Flaherty, investment manager at GAM, part of GAM Holding AG, a publicly-listed Swiss company with more than $120 billion in assets.
via Business News - Yahoo Finance http://ift.tt/1rgsqos
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