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Investment report: betting on bonds

Do they make sense today?

By Paul Wallace   March 2020


If there is sense and sensibility in investing, bonds are undoubtedly the choice for Jane Austen’s grounded Elinor rather than her flighty Marianne. In modern times the regular income they provide has made them a bedrock of portfolios for those wanting to avoid the sturm und drang of volatile equities. But do they make sense today, when trillions of dollars of bonds worldwide offer outright negative yields if held to maturity?

The worry is that bond prices, which are inversely related to their…

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