Jeffrey: Why bonds can stay overvalued for longer

Why bonds can stay overvalued for longer

When you listen to the Radio 4 news headlines in the evening, the newsreader normally tells you what the stock market has done.

It normally comes a long way down the list of what the BBC judges is important - but even this is an improvement on a few years ago. What the stock market has ‘done' is normally limited to the points move in the FTSE 100. There is little other detail, and it is rare to hear an acknowledgement that there are any other financial assets that might be of interest. In one respect, to be fair, the BBC is little different to those of us actively involved in financial markets. If one of my colleagues asks me what the stock market has done, I will also tend to say that the FTSE 100 was a number o...