That's the question being asked by Stephen Way, fund manager for the AGF funds in Toronto. He's interviewed by Sonita Horvitch of the Financial Post:
The recent action of the U. S. bond market is worrisome, he says, as it
indicates that bond investors are concerned about deflation. Over the
past few weeks, he notes, the U. S. government 10-year bond yield has
plunged to 2.08% from 4%. This represents a 200-basis point drop to a
level last seen in the 1940s. "If the bond market is right about this,
then it could be a challenging environment for equities."
I'm not familiar with Way in particular, though I know AGF is a famous name in Canada. (I follow Cundill, Chou and McElvaine most closely north of the border, though that can be hard with those last two keeping low profiles.)
Way is a global investor. For the linked article, he cites Roche Holding, Akzo Nobel, IBM and CNOOC as stocks he likes. He adds that he's lowered exposure to South Korea.
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