Blowout bond rally stuns investors as virus crisis bites
Fund managers rush for safety of government debt at quickest pace since crisis of 2008
A record-breaking global bond rally accelerated on Friday, with growing fears over the economic impact of coronavirus sending investors scrambling for the safety of government debt at the fastest pace since the financial crisis of 2008.
The gains pushed yields around the world to all-time lows after bond buyers doubled down on bets of further easing by central banks following the Federal Reserve’s emergency rate cut on Tuesday. The pace of the rally suggested an indiscriminate rush for haven assets.