In the global interest

By Barbara Drury
Updated August 31 2012 - 10:13am, first published August 15 2012 - 3:00am
Safety first … Australian government bonds are highly sought-after. <i>Illustration: Michel O'Sullivan</i>
Safety first … Australian government bonds are highly sought-after. <i>Illustration: Michel O'Sullivan</i>
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PIMCO boss Bill Gross has cult status on global bond markets. So when he recently declared that ''the cult of equity may be dying, but the cult of inflation may only have just begun'', you could almost hear the market standing to attention.

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