Name: Invest in bonds of countries tethered to inflation, says Allspring's George Bory on diversification
Uploaded: 2026-06-23T19:57:48+00:00
Duration: 331 s

Speakers

George Bory — Chief Investment Strategist of Fixed Income, Allspring Global Investments

Steve Laipply — Global Co-head of iShares Fixed Income ETFs, BlackRock

Unknown Host — CNBC Anchor

Summary

George Bory of Allspring advocates diversifying bond portfolios globally, favoring short-to-intermediate developed government bonds in countries with inflation-focused central banks and emerging market bonds with favorable tailwinds. Steve Laipply of BlackRock highlights increasing interest in European investment grade and high yield credit as investors look outside the US amid tight domestic credit spreads.

George Bory recommends adding global government bonds to US-centric portfolios for diversification and extra yield without extra risk.
He specifically favors short-to-intermediate developed market government bonds (UK, Europe, Australia) due to single inflation mandates and front-end attractiveness.
Emerging market bonds are noted as having a great run with continued favorable tailwinds for incremental allocations.
Steve Laipply sees growing investor flows into European investment grade and high yield credit, which have proven attractive over time.
US credit spreads are very tight, prompting a quality-seeking shift and increasing appetite for international fixed income.

Ideas

George Bory Chief Investment Strategist of Fixed Income, Allspring Global Investments 0:16

Diversify with global government bonds.

Adding global government bonds to a US-centric bond portfolio diversifies risk, provides extra yield without extra risk, and introduces different central bank and inflation dynamics, creating a more robust portfolio.

George Bory Chief Investment Strategist of Fixed Income, Allspring Global Investments 0:51

Emerging market bonds offer tailwind.

Emerging market bonds have had a great run and still have favorable tailwinds behind emerging economies, so incremental allocations can provide nice benefits to portfolios.

George Bory Chief Investment Strategist of Fixed Income, Allspring Global Investments 2:07

Buy short-term developed government bonds.

Short-to-intermediate (2-5 year) developed market government bonds from countries like the UK, Europe, and Australia are attractive because those central banks have a single inflation mandate, may not validate priced-in rate hikes, and the front-end benefits; mixing this international duration with US duration plays different rate cycles.

Steve Laipply Global Co-head of iShares Fixed Income ETFs, BlackRock 4:51

European IG and HY credit attractive.

European investment grade and high yield credit have proven attractive over time, with increasing investor interest and inflows into income strategies that look outside the US, offering diversification and attractive returns in a world of tight US credit spreads.

This CNBC video, published June 23, 2026, features George Bory, Steve Laipply discussing Global government bonds, Emerging market bonds, Short-to-intermediate international developed government bonds, IGOV, IGHY. 4 trade ideas extracted by AI with direction and confidence scoring.

Speakers: George Bory, Steve Laipply · Tickers: Global government bonds, Emerging market bonds, Short-to-intermediate international developed government bonds, IGOV, IGHY

Invest in bonds of countries tethered to inflation, says Allspring's George Bory on diversification

Summary

Ideas

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