The US Treasury market has begun to trade as if the war with Iraq has already been completely won,...
The US Treasury market has begun to trade as if the war with Iraq has already been completely won, with investors no longer rushing to the security of government-backed securities. Even so, ongoing concerns about the economic outlook are expected to keep yields from climbing much higher, according to Isis global bond fund manager Richard Stevens. 'The market sold off very sharply in mid-March because when the war started, investors thought it would be very short,' he says. 'It corrected about half of that when the allied forces seemed to be struggling. The most recent firming in bond ...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes