Sleepwalking to a World Bond Market Crisis

Sleepwalking to a World Bond Market Crisis

There is an apocryphal story about the captain of the Titanic. When asked at the inquest of into the sinking of the Titanic why he did not steer the ship away from the iceberg, he replied: “What iceberg?” We have to wonder whether something similar might be said of a number of today’s major country governments, should we have a future world government bond market crisis. Despite long-term bond yields soaring to multiyear highs and the clearest s…