COMPANIES When will world markets fly to quality? Typically, periods when investors buy into relatively risky assets - and we are in such a period now - are followed by a rush back into safe havens such as Treasury bonds.
But investors in risky assets are staying put. After Friday's Wall Street sell-off, yesterday started in "flight to quality" mode - sales of Chinese equities, a bad day for European bourses, buying of US bonds, and a recovery for the yen, which had hit its lowest level in more than a decade.
