Bond Outlook [by bridport & cie, May 31st 2006]
The high volatility in equity markets, and a strong possibility that they are entering a bear phase is making investors reconsider the overall mix of their portfolios. In principle, bonds should be benefiting from their low-risk nature, and, indeed, on down days for equities, bond yields tend to rise. However, the fact that inflation and rising interest rates are bad for both stocks and bonds, has led many of our clients to hold more cash. |
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