Many bond investors have been caught wrong-footed this year over inflation.
Global yields rose today as markets adjusted to central banks keeping interest rates higher for longer.
Yields on the global funding benchmark have fallen nearly 30 basis points from this year's peak.
Singapore-based George Efstathopoulos is turning to assets that typically do well in times of good economic growth.
The market is anticipating a far more aggressive rate cuts than the Fed had indicated.
The world's biggest money managers think a global slowdown will have traders flocking to the dollar.
Some investors remain nervous the market may be getting ahead of itself in betting on Fed easing.
Thursday was the worst day for the Bloomberg Treasury Index in more than six months.
Meeting-dated swaps now show about a 60% chance the Fed will stay on hold in December.
Goldman Sachs Group Inc. said McCarthy's departure adds to the risk of a government shutdown in November.
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