Global Bonds Suffer Worst Monthly Meltdown as $1.7 Trillion Lost
- Index’s market value fell $2.8 trillion over past two months
- U.S. 10-year yields saw biggest jump since 2009 in November
Why the Bull Market in U.S. Bonds Isn't Over
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The 30-year-old bull market in bonds looks to be ending with a bang.
The Bloomberg Barclays Global Aggregate Total Return Index lost 4 percent in November, the deepest slump since the gauge’s inception in 1990. Treasuries extended declines Thursday along with European bonds on speculation that the European Central Bank will consider sending a signal that stimulus will eventually end. The reflation trade has been driving markets since Donald Trump’s election victory due to his promises of tax cuts and $1 trillion in infrastructure spending.