How to Respond to the Global Bond Market Sell-off? Former Vice President of the World’s Largest Bond Fund PIMCO, Hu Gang, Shares Market Insights Behind Closed Doors
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Since September, from Europe to Japan, a rare wave of sell-offs has appeared in the medium- and long-term bond markets of Western countries.
Amid this wave of sell-offs, core Western countries such as the UK, US, France, and Japan have all seen their long-term government bonds plunge and yields soar—a rare phenomenon. Among these, the 30-year government bond yields of the UK, France, Japan, and Germany have all reached new highs not seen for over a decade. On Wednesday, the US benchmark 30-year Treasury yield broke through the closely watched 5% psychological threshold. Meanwhile, the UK 30-year government bond yield climbed to 5.75%, the highest since 1998, and Japan’s 20-year government bond yield also hit its highest level this century.
A global bond sell-off is deepening, and this pressure is eroding the value of government bonds—traditionally regarded as among the world’s safest assets—and pushing long-term bond yields to multi-decade highs.
What’s especially unusual is that this round of surging yields in US, European, and Japanese government bonds is happening just as the US Federal Reserve is about to start another rate-cutting cycle in September, a period when global short-term interest rates, led by the US dollar, are all in decline.
At 7:30pm Beijing time on September 8, Mr. Hu Gang, Founder and CIO of Winshore Capital and former Vice President of the world’s largest bond fund PIMCO, will go live from New York as the main speaker for the Alpha online private sharing session to discuss how to respond to the global bond market sell-off and to analyze asset allocation logic under changes in the US political and economic system.
Mr. Hu Gang is currently the founder and Chief Investment Officer of US hedge fund Winshore Capital. Previously, he was a portfolio manager at BlueCrest Capital Management LLP focused on global macro trading, especially in inflation markets.
Mr. Hu Gang has more than 20 years of experience in financial markets, having served as Managing Director at Credit Suisse and Executive Vice President at PIMCO, one of the world’s largest bond funds. Mr. Hu holds a bachelor’s degree in Applied Mathematics from Tsinghua University, Beijing, and a PhD in Applied Mathematics from the California Institute of Technology.
This session will also feature a special 30-minute Q&A interaction segment, where participating members can raise their most pressing topics to receive guidance from Mr. Hu Gang. Those interested in this private event with Mr. Hu can click the image below
On the evening of September 18, well-known economist and author of "Witnessing the Countercurrent," Mr. Fu Peng will lead an Alpha online private course to share the new policy signals from the just-concluded September Federal Reserve meeting, as well as his latest research on changes in major assets such as stocks, bonds, commodities, forex, and gold. He will help everyone understand the underlying allocation logic and key timing.
The Alpha Online Private Sharing Session is a service provided by Wallstreetcn for high-net-worth users. In 2025, there will be at least 20 Alpha private sharing sessions online, averaging five per quarter. We invite top experts from around the globe to address hot market topics and key concerns, answer users’ questions, provide clarity on asset trends, and support personal key decisions.
In 2025, other guest experts who have spoken at our Alpha online private sharing sessions include:
Xu Xiaoqing, Chief Economist of Dunhe Asset Management
Wu Ge, Chief Economist of Changjiang Securities
Fu Peng, Well-known economist, author of "Witnessing the Countercurrent"
Liu Chenming, Chief Strategy Analyst at GF Securities
Winner of the New Fortune Best Strategy Analyst Award in 2023 and 2024
Mu Yiling, Chief Strategy Officer at Guojin Securities
Xia Chun, Chief Economist at Shangshan Capital Group
Zhang Yu, Deputy Director and Chief Macro Analyst at Huachuang Securities Research Institute
Zhang Jingjing, Chief Macro Analyst at China Merchants Securities
Wang Kaiwen, Chief Strategist and Head of Research at Clocktower Group
Graduate of Johns Hopkins University’s School of Advanced International Studies, former IMF employee
Cheng Tan, Founder and Research Director of Tantu Macro GMF Research
Former Senior Economist and Vice President of the Asset Allocation Department, Central Foreign Exchange Business Center, State Administration of Foreign Exchange
Cao Jingnan, Head of Quantitative Research, Orient Securities Research Institute; Chief Analyst of Strategy and Geopolitics
Liu Weilin, ICBC Credit Suisse India Fund Manager, Deputy Director of Index and Quantitative Investment Department
Ma Xiaolin, Dean of the Institute of Mediterranean Studies at Zhejiang International Studies University, former senior Xinhua News Agency correspondent in the Middle East
In the second half of 2025, we will invite more top figures from various fields to bring more wonderful private sharing sessions. Welcome to join the 2025 Alpha Online Private Sharing Session as a half-year member; you can still attend five events including this one. Interested friends can click the image below to join as a member.
Risk Warning and DisclaimerMarkets have risks, and investments should be made cautiously. This article does not constitute individual investment advice and does not take into account the specific investment goals, financial situation, or needs of any particular user. Users should consider whether any opinions, views, or conclusions in this article suit their particular circumstances. You invest accordingly at your own risk. ```