By Rahul Karunakar
BENGALURU, Sept 28 (Reuters) – Real yields on major sovereign bonds are deeply negative and expectations for positive returns anytime soon have disappeared as aggressive monetary easing and asset purchase programmes have much further to run, a Reuters poll showed.
For well over a decade, top central banks have adopted aggressive monetary policy tools in an attempt to suppress long-term borrowing costs to keep credit flowing to drive their economies back to higher growth and inflation.
Real, or inflation-adjusted, yields on U.S. 10-year Treasuries plunged below zero this year amid the coronavirus pandemic, joining Japanese, German and British equivalent debt that has for much of the past decade given negative returns.
Although Reuters polls for many years have been wrong-footed in predicting bond yields would rise, the Sept. 17-24 poll of over 100 fixed-income strategists showed major government debt yields were still expected to increase around