Where are the bond bargains globally?

Bargains can be defined as "advantageous purchases, especially those acquired at less than the usual cost". But with bond yields at historical lows – and, therefore, bond prices at record highs – identifying them is difficult. Despite escalating geopolitical tensions, financial assets have remained well supported by signs of economic recovery in the US and by expectations of a still-accommodative global monetary backdrop; for example, lower long-term US interest rates and additional easing from the European Central Bank (ECB).  Headline inflation has drifted lower across the developed...