Is the bond bull market over?

Government bonds may be overpriced, but there's life in the bubble yet.

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"We can all be caught up in the mood of the moment," says Capital Economics. "But talk of a rout' in the global bond markets is, at best, premature." The recent jump in ten-year UK, US and German bond yields reflecting falling prices looks "dramatic". The German ten-year bund yield soared from 0.07% in mid-April to a high of 0.8%; this week it has fallen to around 0.6%. But the moves were smaller than 2013's jump in yields the so-called taper tantrum.And that was ultimately reversed.

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Andrew Van Sickle
Editor, MoneyWeek

Andrew is the editor of MoneyWeek magazine. He grew up in Vienna and studied at the University of St Andrews, where he gained a first-class MA in geography & international relations.

After graduating he began to contribute to the foreign page of The Week and soon afterwards joined MoneyWeek at its inception in October 2000. He helped Merryn Somerset Webb establish it as Britain’s best-selling financial magazine, contributing to every section of the publication and specialising in macroeconomics and stockmarkets, before going part-time.

His freelance projects have included a 2009 relaunch of The Pharma Letter, where he covered corporate news and political developments in the German pharmaceuticals market for two years, and a multiyear stint as deputy editor of the Barclays account at Redwood, a marketing agency.

Andrew has been editing MoneyWeek since 2018, and continues to specialise in investment and news in German-speaking countries owing to his fluent command of the language.