Earlier on Bloomberg I came across a report where more than $ 450 billion has been wiped out in global bond markets. Here is the link to the interview with JP Morgan`s International CIO of fixed income. He calls it a correction.
This is not a good development in financial markets. Bonds that were worth nothing were part of the financial meltdown during the 07-08 crisis and this does not take into account what toxic assets Wall Street has been cooking up.
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