Interest rates may be at decade highs, but some of the world’s biggest fixed income funds say it’s still risky business to chase yield.
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In June of last year, I did something I never thought I would do: I bought a government bond.
The rationale was fairly straightforward: the banks were still paying modest deposit rates of up to 2 per cent, while the yield on a three-year bond was almost double, at 3.75 per cent.
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Original URL: https://www.afr.com/markets/debt-markets/if-bonds-aren-t-cheap-equities-can-t-be-either-20230222-p5cmne
