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David Sekera

Dave Sekera, CFA, is chief U.S. market strategist for Morningstar. Follow David on Twitter: @MstarMarkets. Please note, Dave does not use either WhatsApp or Telegram. Anyone claiming to be Dave on these apps is an impersonator. He will not contact anyone on these apps and will not provide any content or advice on either app.

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The ECB's QE program and soft economic data have driven fixed-income returns, while miserly yields on sovereign debt make U.S. corporates more attractive to global investors.

Ahead of the ECB's impending bond purchases, global investors have been attracted to U.S. debt's higher all-in yields and purchasing-power protection as the U.S. dollar appreciates.

Although investment-grade bonds have performed better recently, we expect high-yield bonds to hold their value better in the medium term as rates rise and the economy continues to grow.

This brewer offers bond investors good value for their money, with its structural competitive advantages that provide a strong financial foundation for the long term.