I remember receiving a chain letter in my youth: "Send one dollar to the person at the top of the list," it said, 'and then add your name at the bottom. Forward the letter on to five friends, and pretty soon you'll be rich!"
It is a scheme that cannot end well: paying for something worthless in the hope that people down the line will pay even more than you did. Yet that looks like the thesis with many long-dated government...
Bonds go down when equities go up, is the common perceived wisdom among investors.
Rotating out of high yield and EMD
Schroders has unveiled a six-strong suite of thematic funds called the Global Transformation Range, designed to provide active exposure to long-term themes set to transform out planet and daily lives.
Market signals pose 'dilemma' for investors
Managed by Noelle Cazalis