<p>It's been a tough year for investors; yields may be up but prices are down. What does that represent today: value or a trap? Discussing in this Masterclass are:</p> <ul><li>Nick Hayes, Manager, AXA Global Strategic Bond Fund, AXA Investment Managers</li> <li>Flavio Carpenzano, Investment Director, Capital Group</li> <li>Mohammed Kazmi, Portfolio Manager and Chief Strategist, UBP</li></ul> <ol><li>The impact of inflation on real returns in fixed income</li> <li>The role of central banks in reducing inflation</li> <li>The impact of a recession on corporate default rates</li></ol>