If we look back at the start of the year, most investors were concerned about the collapse of the fi...
If we look back at the start of the year, most investors were concerned about the collapse of the financial system, the contagion effects from the sub-prime crises across other bonds and the fallout spreading into the real economy, so there was a flight to quality in the bond markets, putting downward pressure on bond yields and prompting central banks to lower or maintain interest rates. To some extent, this provided an environment that created a line of support under the financial system. As a result, we saw a sudden shift in market sentiment. Investors became anxious about the growing ...
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