So far 1999 has been a bad year for bond investors. While equities, commodities and property have al...
So far 1999 has been a bad year for bond investors. While equities, commodities and property have all risen, bond prices have fallen sharply. After five glorious years of positive returns, the extent of the falls has taken many by surprise What has gone wrong? In January, bonds were luxuriating in the glow of imminent world collapse following the Asian, Hedge Fund and Russian crises. Yields had fallen sharply as investors moved to low risk assets However, the disaster did not happen the move in yields was reversed and momentum carried yields to levels actually higher than seen before th...
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