Has there ever been a bond rally like the one seen since the start of October 2023, and what happened next?
The fall in long-term interest rates (in the United States, the euro zone and the United Kingdom) has been very drastic (105 basis points in the euro zone, 110 basis points in the United States, 105 basis points in the United Kingdom). We seek to determine whether long-term interest rates have fallen as quickly as this in the past, and what happened next (confirmation of the fall , or correction). Historically, the rise in long-term interest rates has been at least as great as the initial fall in the United States, the euro zone and the United Kingdom . If we see the same long-term interest rate dynamics this time around, long-term interest rates will rise to at least their September 2023 level.