Global Bond Market Surges
Pacific Investment Management Co.’s Total Return Fund increased its holdings of U.S. government and related debt as Treasuries surged along with bonds around the world. Bonds are surging globally as investors seek safety following a smaller-than-expected U.S. employment gain for in May and as British voters debate whether to leave the European Union. The World Bank cut its outlook for global growth this week. Japan’s 10-year yield slid to minus 0.155 percent Friday, the lowest ever. The yield on the Bloomberg Global Developed Sovereign Bond Index dropped to a record 0.6 percent. Investec Wealth Head of Fixed Income Darren Ruane discusses with "On the Move" hosts Guy Johnson in London and Matt Miller in Berlin.