Zhao argues stronger U.S. growth than Europe weakens the traditional safe-haven case for government bonds, pointing to a more bearish view on Treasuries.
UBS Asset Management’s Kevin Zhao said he plans to short U.S. Treasuries, reflecting a bearish stance on government bonds. Zhao’s view is based on the argument that strong U.S. growth relative to Europe undermines Treasuries’ safe-haven appeal, a role investors typically turn to during periods of economic or market stress.