“Never try to time the bond market. Anyone who claims to know the future of interest rates is certifiable.”
– Jane Bryant Quinn
The Through Line: Fixed income markets have had a rough go of it in the last couple months. Instead of serving their traditional role – as steady, safe-haven investments during a period of heightened macro/geopolitical angst – bond prices have gyrated between competing storylines. Will the disruption in energy prices sparked by the Middle East conflict lead to temporary price increases, or will it ripple through more broadly and sustainably, dragging down global growth prospects? We parse what’s happened and what the future may hold for this important asset class.
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