Government bonds are the most overvalued asset class relative to fair value (on a one year time horizon), according to a survey by the UK\'s CFA Society.

The quarterly CFA UK Valuations Index survey of UK investment professionals revealed that 78 percent of respondents considered government bonds to be the most overvalued - a 6 percent increase in a negative outlook for the asset class since the previous survey in the fourth quarter of 2011.

“Investment professionals were already concerned about the valuations of government bond markets at the beginning of the year, and their concerns have incre...