Analysis: Bond bears smell blood, others claw for buying opportunity

Traders work on the floor of the New York Stock Exchange (NYSE)

David Randall

Some of the biggest US investors believe the bond market has slipped into a bear phase. Others believe it has turned into one of the best buying opportunities in years.

Pimco, one of the world's largest bond fund managers, and widely followed Guggenheim Partners are among the investors who say benchmark 10-year Treasuries yielding 3pc - now within reach - are too hard to resist.