By Brad Crombie, Global Head of Fixed Income, Aberdeen
“My grief lies onward and my joy behind” sounds rather like something from a Shakespearean sonnet. And that's because it is.
Reading it made me think of the Great Rotation and the mistaken belief that the 30-year bull market in bonds was about to come to an abrupt end. This was never going to be the case. More people are starting to realise that now. However, as we entered 2014 it was a very real concern — supported largely by the assumption that the US and the UK were about to embark upon a rate-rising path.