Government Bonds
In-depth reporting on investing in Government Bonds for our pension fund and asset management readers from IPE’s award-winning journalists.
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NewsNew Norway SWF council questions tech weightings, sovereign debt criteria
‘Strengthened preparedness’ needed to manage GPFG’s geopolitical risk, advises three-strong permanent panel of experts
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AnalysisDutch pension funds reduce dollar bond holdings
Civil service scheme ABP, the only Dutch pension fund with a sizeable exposure to US treasuries, reduced its allocation by €10bn in 2025
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FeaturesIPE Quest Expectations Indicator – January 2026: Equities win managers’ vote
The pessimism around equities prevailing last summer has evaporated
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Asset Class ReportsFixed income report 2026 - Germany’s spending spree: safe bet or bumpy ride for Bund investors?
The German government’s landmark decision to increase public spending beyond its traditionally strict limits meant that Bunds had a volatile ride last year. This scenario has already become a familiar one for investors, as shown by the 2.5 basis points (bps) jump in the 10-year bond yield that kickstarted 2026.
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Opinion PiecesPension funds must resist the weaponisation of asset allocation
Concerns about geopolitics are one of many factors involved in pension funds’ asset allocation decisions - yet they are often overemphasised by outsiders
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NewsDanish pension funds lose their appetite for US assets
Selling US Treasuries is not a ‘weapon’, says Copenhagen professor, but the bonds are viewed as having become too uncertain
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NewsPFA holds off after last year’s US bond exit over Trump
Sampension says poll shows nearly 70% of Danes fear global developments – with Trump in power – will hit their pension savings
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NewsSwiss pension funds recalibrate US Treasuries exposure
The Swiss bond market is too small to meet the demand for bonds from Swiss pension funds, says PPCmetrics
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NewsGilt market reaction to UK Budget remains subdued despite OBR leak
Gilt market reaction to the UK Budget was ‘subdued’
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NewsPeople’s Pension overhauls pre-retirement strategy, cutting cash, sovereign debt
UK pensions provider revamps its pre-retirement strategy, cutting cash and sovereign debt in favour of global short-dated credit
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Special ReportIMF sounds alarm on ‘shadow banks’
The growing connection between non-bank financial intermediaries and the global banking network is causing concern
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FeaturesFrench turmoil sparks havoc in government bond markets
As France battles more upheaval, and with yields on 10-year French govvies spiking, institutional investors have adopted a wait-and-see attitude
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NewsDNB reassures Dutch funds on interest rate hedging impact
Dutch pension sector is worried that government bond trades upon switching to defined contribution arrangements could squeeze liquidity and move markets
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NewsFondoposte builds bond portfolio with tilt to Italian sovereigns
Amundi, one of the pension fund’s fixed income asset managers, will overweight US Treasuries and UK Gilts
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AnalysisIPE Netherlands Briefing: PFZW switches to active management
Plus: Caterpillar divestment; French government debt
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NewsSwiss pension funds scale back global government bond exposure
Boards of Swiss pension funds are debating whether government bonds can still play the role of safe haven, says consultancy Complementa
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NewsDutch pension funds should slash government bonds, says BlackRock
The risk-return profile is not attractive compared to other fixed income categories, according to the asset manager
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FeaturesIPE Quest Expectations Indicator - July 2025
US President Donald Trump remains the main source of global political risk. In recent weeks, he has ramped up pressure on Russia over the ongoing war in Ukraine while the success of his interventions in Israel’s dual conflicts with Hamas and Iran is uncertain.
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FeaturesChart watch: Uncertainty following tariff announcements persists
Though much of the damage caused by the so-called 2 April ‘Liberation Day’ announcement of US tariffs has been repaired, uncertainties generally remain high.
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Country ReportCase study: Italian pension fund Enpam creates two-part investment portfolio
Doctors’ fund is repackaging assets into cash flow-matching and return-seeking parcels
