There was, and will be, divergence It’s not felt like it somehow, but 2015 has been a bear market for US and UK government bonds, with yields up around 20 to 30 basis points (bps) at most maturities. In stark contrast, European bonds have made new record lows this year – initially as the European Central Bank (ECB) announced quantitative easing (QE) and cut interest rates to negative levels, but again ahead of its upcoming meeting in December where further easing measures are widely expected. … Continue reading Global bond market outlook 2016