If you want to invest in bonds in 2015, there are a few things to watch out for, says Saxo Bank's Head of Fixed Income Trading Simon Fasdal.

The strong dollar and low oil prices will have a cooling effect on the US economy, dampening inflation. Therefore Simon expects any interest rate hikes from the US Federal Reserve to be gentle. As a result, yields on 10-year government bonds will continue to stay below 3%, and risks for a big global bond meltdown is very low.

Looking to Europe, Simon expects one last rally in European bonds when the European Central Bank starts to buy government bonds in early 2015. There is a  good chance that the bond rally will boost European equities into a long awaited QE driven rally, says Simon.

Emerging markets are a bit more difficult to call in 2015, according to Simon. They are likely to be divided by the low oil prices, which have already negatively impacted producing countries like Venezuela and Russia. Simon exports expects countries like India and Indonesia to benefit from low oil prices. Overall Asia and Europe will benefit most from lower oil prices.