"QE has successfully turned the bond vigilantes into bond zombies," writes Mike Riddell. With...

|By:, SA News Editor

"QE has successfully turned the bond vigilantes into bond zombies," writes Mike Riddell. With central banks having an unlimited bid in fixed income,  the discipline enforcers turn instead to currency markets and index-linkers (TIP), and the world's worst-performing currencies this year are the yen (FXY) and the pound (FXB) as the stimulus efforts of the BOJ and BOE trump that of the Fed.