Salient to Investors:

  • Julian Robertson at Tiger Mgmt said bonds are at ridiculous bubble levels as governments worldwide buy bonds to keep their countries growing. Robertson said the bond bubble will end very badly but is finding equity opportunities in great companies, like Alibaba.
  • Leon Cooperman at Omega Advisors said called bonds are very overvalued but sees opportunities in the stock market where there is no indication of euphoria priced in.
  • Howard Marks at Oaktree Capital said investors are taking on more risk as central banks keep interest rates unnaturally low and suppress yields on traditional fixed-income investments.
  • Bill Conway at Carlyle Group does not see a catalyst that would collapse the bond market but says almost every company in their buyout funds has refinanced at least once.

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