But the greater the multiple & blind faith it enjoys, the more it risks being felled, if / when
an abrupt change in sentiment finally hits... as we saw with Aryzta.
Mild movements
in interest rates will often have a minimal effect on the price of bonds whereas
abrupt swings
in interest rates, market
sentiment or investor fears, as we've observed
in markets recently, can
change the valuations of bonds dramatically over a short period of time.