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.