Back to the future: the return of the ‘old normal’

06 April 2018

 

Sponsored Content By guest contributor Stephen Miller, advisor, Grant Samuel Funds Management On Friday 4 February 1994, the US Fed under Alan Greenspan tightened monetary policy for the first time in five years. This unleashed the biggest ever calendar year bond sell-off, in basis point (bps) terms, in the US 10-year yield during the approximate 35-year bond bull market that ran from 1982 to 2017. Although a torrid period, markets did...

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