For much of the past two decades, fixed income investors have largely been forced to make a trade-off. Chase higher income through credit, or prioritise the defensive qualities of government bonds. Rarely have both opportunities existed at the same time.

That may finally be changing. Higher interest rates have reset bond markets, Australia has emerged as one of the healthier developed economies from a fiscal perspective, and investors are once again being paid attractive yields without sacrificing the defensive qualities that fixed income can provide when equity markets come under pressure.

In this sit down with Livewire Markets, Darren Langer (Co-Head of Australian Fixed Income and Portfolio Manager of the Yarra Australian Bond Fund) explains why the current backdrop is unlike anything he has seen for years.

Read here (free subscription to Livewire Markets required).