He’s made this case many a time. Forget the stock market, bonds are the thing:
The stark findings by the Organisation for Economic Co-operation and Development (OECD) will be presented in a report this week that highlights the impact of ultra-low interest rates on global retirement incomes.
It shows that a person buying an annuity today who saved 10pc of their wages into a pension for 40 years can expect just over half the earnings of someone who saved the same amount but retired 15 years ago.
Bonds just aren’t great things to have in a low interest rate environment.