The bond market, or more accurately bond traders are often treated as oracles of the future impact of fiscal polices, so its worth noting that according to Lipper LESG data (quoted by Stuart Kirk/FT) over the last 20 years, around 80% of European Bond funds underperformed their market indices;

in other words, investing directly in bonds would have four times out of five led to higher returns than by using a bond market trader's aggregation fund.

So much for prescience!
#economics #BondMarkets