The bond bear market is the worst in more than 200 years, according to BNP Paribas' global chief investment officer.
"This represents the biggest US bond bear market in over 200 years," Shing said.
But, he said, one corner of the bond market is an opportunity for investors: U.S. "fallen angels" in the high-yield credit segment.
"So actually, you can still capture 8% plus gross yield of these fallen angels, but at a much lower default risk at a time when the economy is slowing."
Those keen on investing in "fallen angel" bonds can consider exchange-traded funds and funds that have been specifically developed to focus on such bonds.
Persons:
Edmund Shing, CNBC's, They've, there're, Shing
Organizations:
BNP, Treasury, U.S, U.S . Federal, U.S ., Morningstar
Locations:
U.S