Global Bond ‘Carnival’ Sets Stage for Record Two Months
- Bonds rise nearly 10% in November and December combined
- Falling yields are driving the dollar down, boosting G10 FX
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The world’s debt market is on track to post its biggest two-month gain on record as traders ramp up expectations that central banks everywhere will slash interest rates next year.
The Bloomberg Global Aggregate Total Return Index has risen nearly 10% over November and December, its best two-month run in data going back to 1990.