Seeking consistent positive returns.
Come rain or shine.
Lending money to a company or government – in exchange for small, fixed return, payable at a fixed future date – sounds like a sensible, if slightly dull, investment proposition.
Yet for over 40 years, bond investors have been handsomely rewarded. Inflation was exiled after the 1970s and interest rates have marched down the hill ever since. Barring the occasional hiccup along the way, bond prices have risen and delivered exceptional returns to their holders – especially during bouts of stress in equity markets.
Turning the pages of the history books reveals countless examples of similarly lucrative bull markets in bonds. What do they all have in common? An ending.
In this seminar chaired by Rory McIvor, Alex Lennard and Kate Forsyth look at what has put an end to rising bond prices throughout history, the factors that might signal the death of the bull market in bonds this time around and what the consequences may be for investors.