Global bonds tumble into their first bear market in a generation
Under pressure from central bankers determined to quash inflation even at the cost of a recession, global bonds slumped into their first bear market in a generation.
By Garfield Reynolds and Finbarr Flynn / BLOOMBERG
The Bloomberg Global Aggregate Total Return Index of government and investment-grade corporate bonds has fallen more than 20% below its 2021 peak, the biggest drawdown since its 1990 inception.
Officials from the US to Europe have hammered home the importance of tighter monetary policy in recent days, building on the strong hawkish message from Federal Reserve Chair Jerome Powell at the recent Jackson Hole symposium.
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