Bonds are supposed to be boring. Stocks are supposed to be exciting. This year, the opposite is true.
While U.S. stocks have held remarkably steady in 2015, longer-dated Treasuries have been jumping all over the place, posting some of the biggest back-to-back gains and losses on record as the Federal Reserve talks about raising interest rates and European leaders duke it out over a bailout for Greece.
The trend is wearing thin on some of those bond investors who sought out a traditionally safe place to park their money. They yanked US$327 million from exchange-traded funds focused on this longer-dated debt in the past week alone, and $1.4 billion year-to-date, Bloomberg data show.
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