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Dampier set for first bond buy

Hargreaves Lansdown head of research Mark Dampier says bond valuations are so attractive that he may invest in one for the first time in his career.

Dampier says spreads have ballooned to beyond the level they were in 2002 in the bear market despite the fact that we are not in a full-blown recession.

He says: “There has been a de-leveraging in corporate bonds that has led to the fall in price but sooner or later the status quo will come back and I feel now is the time to do some buying. Of course, they can go bust but that fear was always there. The opportunity to redeem at a greater rate is also there. Yields are higher than ever, with high-yield bonds up over 10 per cent in some cases.”

Informed Choice director Martin Bamford says: “They do play a major part but it is a tough call on the asset class. There is value but it may be only for the savvy as opposed to cautious investors.”


Brokers wait for Abbey to reprice exclusives

Mortgage brokers are expecting it to be several weeks until Abbey offers its 27 national key accounts new exclusives after withdrawing them last week.The company says it will be readjusting its prices after withdrawing all its exclusives. It says it will offer new exclusives to its national key accounts and stresses it is not a […]

Markets muddled following Fed rate cut

World stock markets have produced a mixed reaction to the US Federal Reserves decision to cut base rate by 0.75 per cent yesterday.The FTSE 100 is down by 45 points from close yesterday, having dropped by as much 100 points earlier. Meanwhile the Dax is also down by 24 points as of 10.20 this morning.The […]

Business boost for PMS

Premier Mortgage Service ach-ieved over £780m more business applications in January than it expected, totalling just under £4bn for the month.Managing director Joh Malone says PMS was pleasantly surprised by the figures but February’s figures are likely to be lower due to the withdrawal of products and the cost of borrowing.He says: “The purchase market […]

Top of the reform

Minister for pension reform Mike O’Brien and Helm Godfrey managing director and resident yoga guru Bruce Wilson appear to have been separated at birth. They obviously share an interest in financial services but can O’Brien wrap his legs around his head?


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