Last year, bonds declined in value, and some surveys revealed that advisors were reducing their bond allocations.
It seemed certain that the Federal Reserve’s tapering of quantitative easing would lead to higher rates. Many predicted the imminent collapse of the bond bubble as investors pulled money out of bond funds. The Pimco Total Return Bond Fund (PTTRX) alone had $41 billion yanked, causing it to lose its title as the world’s largest fund.
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