Bonds stage rally after sliding in August
Singapore
THREE weeks ago, Bill Gross said economic turmoil in China would support long-term Treasuries. While bonds slid in August, a rally on Tuesday combined with a selloff in China shares shows it may be too soon to start betting against US government debt.
Mr Gross, who built the Pimco Total Return Fund into the world's biggest bond fund, said China's decision to devalue its currency pointed to weak global economic growth, lower inflation worldwide and support for long-term Treasuries. A bond-market gauge that shows the outlook for consumer prices slid to a six- year low in August, only to start rising again as the month drew to a close.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
China’s top airlines improve balance sheet in Q1; outlook positive for May Day
Stablecoin issuer Tether invests US$200 million in brain-computer interface company
Yahoo to lay off staff in Singapore as it shifts to content curation
US: Wall St opens higher on megacap strength, Fed verdict awaited
IReit Global occupancy rate grows to 91.5% in Q1
Yen surges against US dollar on suspected intervention