CLSA’s Wood tips US policy reversal, favours China govvies

The US will likely have to reverse its policy on raising interest rates this year and return to monetary easing, said CLSA global equity strategist Christopher Wood, who favours Chinese onshore government bonds as a result. While the US Federal Reserve raised interest rates for the first time in nine years in December and had targeted further hikes this year, the ongoing liquidity problems in corporate bond and equity markets is throwing a spanner in the works, argued Wood yesterd…