The 4st worst in 300 years
Oct 13, 2022
The correction in government bond markets has taken historic proportions. Global bonds are indeed heading in 2022 for their 4st worst year after 1721 ( bursting of the South Sea bubble), 1865 ( end of the US civil war ) and 1920 ( post WWI ). At least from a long-term historic perspective, the havoc created by the overdue unwinding of ultra-lax central banks policies looks extreme and there could be buying opportunities appearing soon. We would however still recommend investors to let the dust settle before stepping back in.