Bond markets' 'addiction' to low rates will 'not be left unsatisfied' for a year or more
David Arnaud of Canada Life Investments
Following the unprecedented falls across all financial markets in recent weeks, the safest government bond markets have had to become cash vaults for fund allocators trying to raise the liquidity needed to plug the fast-growing holes left by the equity, corporate bond and commodity sell-offs.
A decade of intense monetary easing has redirected investors in their frantic search for yield towards less liquid assets or lower rated bonds and this is precisely what has precipitated the fast deterioration...
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