When it comes to seeking outsized returns, “stripping” has been a lucrative venture so far this year.
“Strips”, bonds that have been “stripped” of their interest payments until maturity, tend to outperform regular bonds when interest rates fall sharply – as has been the case since April.
Buying 30-year “stripped” Treasuries has generated total returns of about 17 per cent so far this year. Earlier this month, returns were more than 20 per cent, handily beating the S&P 500, down 1 per cent since January.
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