Market Charts

The 30+ year bond “bull” market

04/15/2019

30+ year bond bull market chart

While interest rates have meaningfully declined since 1980, the overwhelming majority of fixed income returns were attributable to coupon income, not price appreciation. This is due to the long term compounding effect of income generation and reinvestment.
 

Related resources

U.S. fixed income
Live from IMPACT® 2018: A bond bear market? Bring it on!
Janelle Woodward, Head of Fixed Income at BMO Global Asset Management and prior guest on the podcast, joined Ben Jones at IMPACT® 2018 to discuss the current state of fixed income markets and why investors shouldn’t fear a bond bear market.
 
A bond bear market? Bring it on!
If we are, in fact, at the end of the bull market, what does the new horizon look like? Unlike, we suspect, how equity managers would react to the “end of the bull market”, we welcome such developments, even if we retain some of our skepticism.

 

Bloomberg Barclays US Aggregate Bond Index is a broad-based flagship benchmark that measures the investment grade, US dollar-denominated, fixed-rate taxable bond market. The index includes Treasuries, government-related and corporate securities, MBS (agency fixed-rate and hybrid ARM pass-throughs), ABS and CMBS (agency and non-agency). Investments cannot be made in an index.

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