Morgan Stanley Flags ‘Temporary’ April Reprieve on Bond Losses
- April has been one of best months for global bond investors
- Pile of bonds with sub-zero yields shrinks as rates rise
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Investors battered by the unprecedented bond losses could soon receive some much-needed reprieve, if history is any guide.
Over the past two decades, global government bonds posted a median total return of 1.1% in April, more than any other months, Morgan Stanley’s strategists led by Matthew Hornbach wrote in a note Friday. The average return of 0.7% in April, the start of the Japanese fiscal year, was also among the best months.