The ongoing bear market in Treasury bonds is among the worst on record, but several sectors of the fixed-income market remain ports in a storm, based on year-to-date results through Thursday for a set of fixed-income ETFs.
ever again. We got caught in an environment post-global financial crisis where everybody just thought rates were going to remain low.” Perhaps the crucial factor for assessing the path ahead for monetary policy is the degree of economic resilience, or the lack thereof, going forward. “It’s a bond market selling off because of an underlying macro resilience and we see that in higher real rates,” notes Padhraic Garvey, managing director at ING.
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