Chotaro Morita Barclays Capital

Chotaro Morita of Barclays Capital claims the No. 3 spot in this new sector, thanks partly to his ability to “differentiate himself from the consensus commentators on the Street,” as one money manager puts it. Morita, who has covered fixed income for 17 years, is concerned that the purchase of safe-haven assets like Japanese government bonds could pose risks, such as a widening of the yield curve in some major government bond markets because long-term interest rates rise faster than short-term. As a result, he is recommending a bear-steepening strategy, such as buying ten- to 30-year bonds and 17- to 20-year asset swaps.  — Carolyn Koo