bond yields

Multi-Decade Bull Market in Fixed Income Securities

December 20, 2010

As 2010 draws near its end, many analysts are proclaiming the end of a multi-decade bull market in fixed-income securities.  The power of that bull market is can be seen in the table below, which presents sequential five-year averages in 10-year sovereign debt yields for the United States, Germany, Japan, Britain and Canada.  Average yields […] More

Footprint of Deflation in Major Advanced Economies

July 27, 2010

The fear of future inflation has ushered in an age of austerity even as prospects for sustained economic recovery among major advanced nations face substantial and unusual uncertainty.  It is feared that government deficits, which ballooned in response to a drop in tax revenues caused by the deep recession, will be monetized away by central […] More