Foreign Bonds: Sifting Through The Wreckage

If you think things have been rough in U.S. bond markets lately, take a look at the rest of the world. Fixed-income markets in Europe, Japan, Latin America, and Southeast Asia that looked promising at the start of 1994 have proved to be full of land mines. But now, there is reason to hope the sell-offs are starting to subside and that markets will soon reach a point where the positive fundamentals can once again take precedence over panic.

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