250-year view Looking backwards

Are bond yields too high, rather than too low as many commentators suggest? History suggests that they are, according to a report from Credit Suisse. Taking a 250-year perspective, the last half-century has been an aberration. The normal range for UK governments’ bond yields in peacetime has been 2.5-4%. So the last 20 years of declining yields are really just a reversion towards the normal range. And with most government bonds still yielding more than 4%, there should be further to fall. Of ...