Fixed income has absolutely no value and investors should instead prepare for the return of inflation to the global economy, according to Stephen Isaacs, the chairman of the investment committee at London-based alternative advisory firm Alvine Capital.
Isaacs - who was previously the director of fixed income trading and syndication at Credit Suisse - believes that more fiscal policy will take the strain from monetary policy as "rampant populist pressures" start to take hold.
"I think monetary policy is a dead duck and I think bond yields at this level for investors represent absolutely no value and a huge amount of risk. What I would like to focus on is the coming fiscal reflationary trade because I think that is creeping out of the woodwork in many places," he told CNBC Wednesday.
"I would sell all the gilts I had to the Bank of England," he added.