Studie zum weltweiten Finanzmarkt 2011

The Credit Suisse Global Investment Returns Yearbook 2011 provides 111 years of data on financial market returns in 19 countries, from 1900 to date, making it the definitive record on long-run market returns, and helping to put into context the current outlook for asset prices as the global economic recovery gathers pace. Since the publication of the 2010 Yearbook, the global business cycle has shown considerable improvement, and inflation rather than deflation is now the leading issue of concern for investors. Following the decades-long bull market in fixed income since 1982, the authors ask whether investors should now be fearful of falling bonds. They examine periods when there have been sharp falls, or draw-downs, in government bonds and how long these have persisted. From a cross-asset class point of view, they also investigate correlations between bonds and stocks and how these have changed over time.