Global bonds step into bear market as central banks seek to quash inflation
Rapid interest-rate hikes deployed by policy makers in response to soaring inflation have brought to an end a four-decade bull market in bonds.
Under pressure from central bankers determined to quash inflation even at the cost of a recession, global bonds slumped into their first bear market in a generation.
The Bloomberg Global Aggregate Total Return Index of government and investment-grade corporate bonds has fallen more than 20% from
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