30th March 2023
M&G: Are bonds offering value once again?
Bond markets experienced one of their sharpest sell-offs on record in 2022, as concerns over persistently high inflation forced central banks to take a far more aggressive monetary policy stance, with the Federal Reserve pushing through a series of interest rate hikes. There were few places to hide in fixed income, as government bond yields climbed to their highest levels in over a decade, while credit valuations also came under severe pressure.
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