Corporate bonds, on the other hand, have made an impressive recovery from the peak of the crisis in March-April when the Covid-19 outbreak turned into a pandemic.
The Bloomberg Barclays Global Aggregate Index, which covers investment-grade bonds in general, has returned close to 6 per cent year to date - better than the red-hot US S&P 500 stock index, which has returned 5.5 per cent in the same period.
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