Global Bond Index Tumbles Toward Bear Market on Powell Pushback
- Bloomberg index within percentage point of 20% fall from peak
- Policy makers determined to slow economy to quell inflation
This article is for subscribers only.
Bonds are sliding toward the first bear market in a generation, burning investors who erred in bets that central banks would pivot away from rapid interest-rate hikes.
The Bloomberg Global Aggregate Index, which tracks total returns from investment-grade government and corporate bonds, is within a percentage point of falling 20% from its peak after another bout of selling following the Federal Reserve’s Jackson Hole symposium.