Giant bond funds could trigger next crisis – GLG’s Mawby

GLG's Jon Mawby says a major catastrophe could stem from the bond market, and buyers "need to be more discerning"

Jon Mawby, GLG

The next financial crisis could be sparked by the rise of giant daily dealing bond funds and exchange-traded funds (ETFs), according to GLG’s top-performing fixed-income manager, Jon Mawby.

The largest bond funds around the world have had to deal with an environment of falling liquidity since the financial crisis of 2008.

With that in mind, Mawby says the increasingly short-term nature of many investors – coupled with the huge increase in flows to funds offering daily liquidity – could spark the

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