Pause in the Bond Boom

Inflation fears could snuff the investment rush to fixed-income securities

When it comes to making big money quickly, thoughts of investing in bonds have not traditionally leaped to mind. Then came the summer of 1982, when declining interest rates gave the nation's $2.3 trillion bond market a spectacular liftoff, making born-again believers out of a generation of battered bondholders.

Though the stock market rally was better publicized, overall returns, counting capital gains as well as interest, made the 1982 surge in everything from US Treasury securities and corporate bonds to municipal bonds sold...

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