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Global Bond-Market Investors Are Getting Really Nervous

  • Weaker credits, emerging markets gain appeal as yields tumble
  • ‘Difficult to put money to work,’ says Pelosi at Antares
General Views Of Shanghai's Lujiazui Financial District
Photographer: Qilai Shen/Bloomberg

The global bond market’s soaring performance has left investors queasy about the ride ahead.

The Bloomberg Barclays Global Aggregate index has earned 2.3 percent through March 28, its best quarter since mid-2017. But with yields sinking across major sovereign markets, investors now face a dilemma. Buying government bonds at these levels is perilous because economic data may improve, while taking more risk could leave investors nastily exposed to a global downturn.