Buy US Treasurys: Only for the Short-Term

Buy U.S. Treasurys only for the short-term because of sovereign debt issues will be a major concern for the next few quarters, advised Hans Goetti, chief investment officer of LGT Bank.

"At the moment, we have this situation where risk aversion is on the rise, which means we're going into the U.S. dollar, and believe it or not, into U.S. Treasurys," Goetti said on CNBC Asia Pacific's Protect Your Wealth. "For the last 60 years, these two asset classes have been safe-haven assets and that's not going to change overnight."

However, the story is a different one for bonds if investors are eyeing returns over the longer-term.

"We've been talking about government deficits and the dire fiscal situations that so many governments have, and one of the areas that we will avoid in the long-term clearly is sovereign debt," he explained.

Ballooning deficits and huge borrowings in Greece and other weaker EU members like Spain and Portugal are worrying investors about their ability to service debts. Likewise, investors are concerned about the fiscal health of the U.S. after the government spent billions of dollars to prevent the world's largest economy from seizing up in the wake of the global financial crisis and the ensuing recession.

"If you are in fixed income, we would like to be in emerging market debt rather than sovereign debt. Emerging markets like Brazil and other places, that's where the growth is. We are also looking at pretty good gains there probably over the next few years," he said.

Goetti's short-and long-term outlooks differ for the resources space too. He said that with China stepping on the brakes to keep its economy from overheating, risk trades are off the table right now, as well as commodities.

"Ironically, whatever we recommend for the long-term may not make an awful lost of sense for the next two months or so. But in the long term, commodities will do well, precious metals will do well as it plays on currency debasement and we still believe in the longer-term growth potential as emerging markets."

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Catch "Protect Your Wealth" on CNBC's Asia Pacific network every Tuesday on "CNBC's Cash Flow," Wednesday on "Asia Squawk Box" and Thursday on "Capital Connection."