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2016-04-27 10:59:14 W●●●●●●ull great site ●●●●●●n 10 The third worry has had the least media ●●●●●●ion but has the ●●●●●●st ●●●●●●ial to hurt ●●●●●● in the end. I●●●●●●t rates on long-term ●●●●●●ment bonds have risen ●●●●●●●●●●●●y. Or to put it ●●●●●●r way, the ●●●●●●shing bull ●●●●●● in these bonds has ended and gone into ●●●●●●e. The ●●●●●●tion yield on a ●●●●●●l B●●●●●● 15-year ●●●●●●ment bond has ●●●●●●sed to 3.2pc. So bonds now offer a ●●●●●● ●●●●●●st yield than ●●●●●● which means that ●●●●●● are not ●●●●●●sly ●●●●●● value. Yet ●●●●●●y they are still more ●●●●●●tive. The ●●●●●●e ●●●●●●nd yield on the FTSE 100 index is 3.6pc as I write and, ●●●●●●ering that ●●●●●●nds rise in the long term, ●●●●●● are still a much ●●●●●● buy. There will have to be a much ●●●●●● rise in ●●●●●●ment bond ●●●●●● ●●●●●● ●●●●●● have a ●●●●●●m. One day, yes. But ●●●●●●ly not for a few years. |