With fixed-income yields at record lows—and even negative in some places—a senior broker has told CNBC that now is the perfect time for investors to sell and move into equities.
"As a bond man, I've got to say 'get out of bonds and into stocks' and believe me that was a painful thing to say," Bill Blain, the senior fixed income strategist at Mint Partners, a division of New York's BGC Partners, told CNBC Tuesday.
The massive amount of liquidity that has been injected into the financial system by the world's central banks since the collapse of Lehman Brothers in 2008 has meant investors have piled into debt markets and have consequently narrowed the interest rates paid out. Yields have an inverse relationship to the price of a bond. This search for yield has grown so intense that Nestle's short-term euro-denominated bond yield recently fell into negative territory.