Hasenstab: There is no such thing as a risk-free asset

There are no longer any risk-free assets for investors to buy, after a spike in the price of a range of government bond safe-havens, Franklin Templeton's fixed income star Michael Hasenstab has said.

Hasenstab (pictured), co-director of the firm’s international bond department and manager of the Templeton Global Bond fund, said risk/reward dynamics within asset classes have become much more finely balanced. “I do not believe there is a risk-free asset anymore. The question is whether you are getting rewarded for the risk you are taking. Yes, things are bad, but I do not think the world is ending either. There are always opportunities, and I think if you have a long-term perspective, you can be rewarded,” he said. Hasenstab said the global economy is not set for an Armageddon scena...