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Global Bonds Suffer Worst Monthly Meltdown as $1.7 Trillion Lost
Global Bonds Suffer Worst Monthly Meltdown as $1.7 Trillion Lost
-- Index’s market value fell $2.8 trillion over past two months
-- U.S. 10-year yields saw biggest jump since 2009 in November
The 30-year-old bull market in bonds looks to be ending with a bang.
The Bloomberg Barclays Global Aggregate Total Return Index lost 4 percent in November, the deepest slump since the gauge’s inception in 1990.
Treasuries extended declines Thursday as OPEC’s agreement to cut oil production added to prospects of higher inflation. The reflation trade has been driving markets since Donald Trump’s election victory due to his promises of tax cuts and $1 trillion in infrastructure spending. All this has prompted investors to dump debt that was offering yields near record lows.
The 30-year-old bull market in bonds looks to be ending with a bang.
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The Bloomberg Barclays Global Aggregate Total Return Index lost 4 percent in November, the deepest slump since the gauge’s inception in 1990. Treasuries extended declines Thursday as OPEC’s agreement to cut oil production added to prospects of higher inflation. The reflation trade has been driving markets since Donald Trump’s election victory due to his promises of tax cuts and $1 trillion in infrastructure spending. All this has prompted investors to dump debt that was offering yields near record lows.
To continue reading please click link https://www.bloomberg.com/news/articles/2016-12-01/global-bonds-suffer-worst-ever-meltdown-as-bull-market-shows-age