The proportion of the CFA Society of the U.K. members who view corporate bonds as overvalued is at a record high, show the society’s valuations index.
The index, which polls the society’s members, found 84% of respondents think the asset class is overvalued. This belief has climbed over five consecutive quarters. The previous quarter, 82% said they believed corporate bonds were overvalued.
In a news release accompanying the data, CFA U.K. said the increase in the proportion of members holding this view “most likely reflects the slight drop in corporate bond yields” since the previous quarter, to 1.56% as of April 20, from 1.66% as of Feb. 8.
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