Bond Bulls Tethered as Biggest Losses Show You Can’t Ignore Math
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Bond investors burned by the biggest market reversal on record should buckle up. The second half of 2015 is shaping up to be no better.
That’s how Jack McIntyre, a money manager who helps oversee $66 billion for Brandywine Global Investment Management in Philadelphia, sees it. With yields worldwide within half a percentage point from the record low 1.33 percent reached in January -- and about $1.4 trillion of securities with yields below zero -- investors are being given little room for error.