If you think this time is different, and the post-2008 world of low interest rates and bond yields is over, think again. Markets may have spent the last two years grappling with the highest inflation and rates in decades, unleashed by the pandemic and Russia’s invasion of Ukraine, but the underlying picture is remarkably stable. So says Steven Major, HSBC’s head of rates strategy, who famously swam against the tide for years and correctly called the extension of the U.S. and global bond bull market and persistently low interest rates and bond yields. After a bruising few years - Treasuries...