Not since 1994 have bond investors felt this kind of heat, and for good reason.
The US Federal Reserve will soon wind down the biggest experiment in monetary policy since the Great Depression, a prospect that has many in the bond market nursing hefty losses as investors redeem their money from bond funds and crowd the exit route.
Having been weaned on record low bond yields thanks to the Fed’s huge purchases of Treasury and mortgage securities, investors are now focused on one crucial question: how high can bond yields rise?
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