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Government Bonds – Stability for the Portfolio? (EN)

Government Bonds – Stability for the Portfolio? (EN)

FINANZ Podcast vor 1 Monat

This episode examines the evolving role of government bonds in institutional portfolios. Once considered the unquestioned anchor of stability, sovereign debt now faces pressure from rising public debt levels, geopolitical tensions and increasing political

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The conversation provides a practitioner‑level perspective on the
relevance of government bonds across regions, from US Treasuries
to European and Swiss sovereign debt. The speakers discuss how
monetary policy cycles, fiscal dynamics and geopolitical risks
influence yields and term premia. They also address the
implications of higher debt burdens, the resilience of safe‑haven
flows and the role of sovereign bonds within multi‑asset
strategies. Listeners gain insight into how fixed income leaders
assess duration, creditworthiness and currency risks when
constructing robust portfolios in a shifting macro landscape.

Key Topics:

The changing role of government bonds in institutional portfolios

Capital preservation, diversification and risk management

Impact of interest‑rate policy and monetary cycles

Currency risks across US, European and Swiss sovereign debt

Rising debt levels and geopolitical tensions

Credit quality differences and implications for allocation

Duration management in a volatile macro environment

Speakers: Sébastien Zöller, Head Fixed
Income, Zürcher Kantonalbank Sébastien leads the Fixed
Income division of Zürcher Kantonalbank, overseeing all active
Swisscanto Invest bond strategies. He is a seasoned fixed income
expert with extensive experience developing innovative solutions
for low‑rate environments. His career spans senior roles at
Credit Suisse in alternative fixed income and earlier work in
interest‑rate derivatives trading. He holds an MA in Banking
& Finance from the University of St. Gallen (HSG) and is a
CFA charterholder.

Agim Xhaja, PhD, Head of Fixed Income, BCV Agim
joined BCV Asset Management in 2006 and manages Swiss and
international bond portfolios. He previously worked in credit
risk control and financial research at UBS and as a financial
engineer at MAN Investment. With nearly 25 years of experience
across fixed income, he holds a PhD in Finance from the FAME
programme (now Swiss Finance Institute), a master’s in
international economics from Geneva, and a mathematics degree
from the University of Tirana.

Moderation: Andreas Rothacher, CFA,
CAIA Senior Investment Consultant and Head of Investment
Research at Complementa AG. Andreas advises institutional
investors on planning and monitoring their portfolios. He is
co‑author of the Complementa Pensionskassen‑Studie, publishes
regularly and serves on the Swiss Pensions Conference Committee
of CFA Society Switzerland. He is also Chapter Head at CAIA
Switzerland.

More podcast episodes and information:
www.finanz-ch.ch

Further information on participating
companies:

Zürcher Kantonalbank, https://www.swisscanto.com/

Swisscanto Invest, https://www.swisscanto.com/

BCV Asset Management, http://bcv.ch/de/bcvzh

Complementa AG, https://complementa.ch/

Disclaimer

DE: Der Inhalt dieser Folge dient der allgemeinen Information und
ist keine Empfehlung zum Kauf oder zur Veräusserung bestimmter
Finanzinstrumente. Alle Angaben sind ohne Gewähr und es handelt
sich nicht um Anlageberatung.

EN: The content of this episode is for general information
purposes only and does not constitute a recommendation to buy or
sell specific financial instruments. All information is provided
without guarantee and does not constitute investment advice.