New York — Donald Trump’s stunning victory in the race for the White House may mark the long-awaited end of a bonds bull run that lasted more than 30 years as bets on faster US growth and inflation lead investors to favour stocks over bonds. A two-day thumping wiped out more than $1-trillion across global bond markets worldwide, the worst rout in nearly 30 months, on bets that plans under a Trump administration would boost business investments and spending while firing up inflation. "We’ve had a sentiment shift in the bond market. We’ve seen it, too. People have already started reallocating out of bonds and into stocks," said Jeffrey Gundlach, CEO of Los Angeles-based DoubleLine Capital, which has more than $106bn in assets. "The cracks have been forming for five years — we’re in this slow-grinding higher phase in yields," he said. The stampede from bonds propelled longer-dated US yields to their highest levels since January with the 30-year yield posting its biggest weekly increase...
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