Bonds have been rallying hard since Mario Draghi of the European Central Bank raised the prospect of a eurozone solution.
But perhaps what really matters is the US presidential election in November. Uncertainty ahead of the election tends to push investors into bonds, says UBS. It looked at the development of Treasury bond yields in the run-up to elections (excluding 2008, which was overshadowed by the financial crisis). Read more


James Mackintosh is the Financial Times' Investment Editor, writing and presenting the daily Short View column and video. In 16 years at the FT his posts have included comment editor, motor industry editor and hedge funds correspondent, as well as spells in the Parliamentary lobby and Paris. He was the first reporter hired for FT.com, joining two weeks before it launched.
John Authers is the Financial Times' Senior Investment Columnist, writing the Saturday Long View and a regular Monday column. In a 22-year career at the FT, his previous posts have included global head of the Lex column, investment editor, US markets editor, Mexico City bureau chief and US banking correspondent. His latest book is The Fearful Rise of Markets.