Fixed income, football and Scotland at the World Cup

On 10 June 1998, Brazil and Scotland opened the World Cup in Paris. It was a proud moment for Scotland, but also the start of a 28-year exile from football's biggest stage. After Hampden heroics, including that famous halfway-line goal, Scotland are finally back for USA 2026. A lot changed while Scotland were away. Crises, bubbles, quantitative easing and inflation shocks reshaped the economy and bond markets. Returns swung hard between government bonds, investment grade and high yield as investors chased safety, income and risk. So, after nearly three decades on the sidelines, who won f...