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Comments from major investors at the Delivering Alpha conference added fuel to an already sour mood in markets and concerns that the world's central banks just can't get it right.
"With the rates that currently exist in global bond markets, the term safe haven applied to G-7 bonds is just plain wrong. These are not safe havens. There is a tremendous amount of risk in owning 10-, 20-, 30-year bonds at these rates," said Elliott Management President Paul Singer.
"So sell long-term bonds is my outright recommendation of an asset class," he said. "And the reason I called it the biggest bubble in the world is because the bond market is $60 trillion, roughly. And it's at prices and yields never before seen and containing a tremendous never-before-seen asymmetry between potential further reward and risk."