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Bond Rout Sparks Inflection Anxiety

Worst credit market sell-off since 2010 suggests long bull market may be ending.

By Zeke Faux and John Detrixhe, Bloomberg | Updated on March 19, 2012

Bonds of all types worldwide are generating their biggest losses since 2010 this month, raising concern that the four-year bull market that pushed interest rates to record lows may be ending as the flood of easy money from the U.S. Federal Reserve subsides.

“For a very long time, the market dynamics in interest rates have been overwhelmed by Fed monetary policy,” said Jeffrey Rosenberg, chief investment strategist for fixed-income at New York-based BlackRock Inc., the world’s biggest money manager, which oversees $3.5 trillion. “Has the big inflection point been reached?”

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