Morgan Stanley sees once-in-a-decade opportunity for credit

Viktor Hjort, Asia head of credit research and strategy at Morgan Stanley, gives FinanceAsia a rundown of some of the key themes that will drive Asia's credit markets this year.

Morgan Stanley sees once-in-a-decade opportunity for credit

What will be the key macro trends for Asian fixed income this year
The past two years were the most volatile on record. For example, if you bought a portfolio of corporate bonds at the end of World War II, by the end of 2008 you would've lost your entire cumulated excess returns, only to recoup them again in 2009. That volatility won't return and it's mathematically impossible to beat the kind of returns we had in 2009.


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