Bond Markets

Brendan Brown

Chapter 7 in A Theory of Hedge Investment, 1982, pp 131-146 from Palgrave Macmillan

Abstract: Abstract The high and volatile inflation rates of the 1970s have increased greatly the perceived risks of investing in fixed-rate bonds. Longterm yields on dollar bonds, which started the decade at near 7 per cent, finished the decade at near 14 per cent; sterling bond yields moved from 9 per cent to near 17 per cent over the same period. Fixed-rate bonds, once viewed as near-riskless assets, ended the decade as highly volatile investments.

Keywords: Real Exchange Rate; Credit Rating; Bond Market; Nominal Interest Rate; Inflation Expectation (search for similar items in EconPapers)
Date: 1982
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DOI: 10.1007/978-1-349-06103-7_7

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