How to weigh up your most reliable assets after a long bull run

We have had a few wobbly days on the markets over recent weeks. After a long bull run, facilitated greatly by quantitative easing, accelerating growth – and little or no inflation – the fact that the stock market paused for breath and then reversed direction was not surprising. This is especially so given what happened in the bond markets.

When you look at how far bonds had run up, even in countries whose ...