Where can investors find value in a changing bond market?

Bond markets have entered a more demanding phase, shaped by higher yields, persistent inflation uncertainty and shifting expectations for monetary and fiscal policy. For investors, this creates both opportunity and risk: income levels are more attractive than they have been for much of the past decade, but careful selection across duration, credit quality and regions remains essential. Government bonds Government bond yields have moved higher across most developed markets this year as investors have repriced inflation risks and policy expectations. The Iran conflict has increased...