Central banks around the globe, including the Bank of Japan and the Bank of England, are purchasing government bonds as part of quantitative-easing initiatives, helping to push down yields and lift bond prices. "Between now and going into the second quarter, you are likely to see low yields everywhere," said Cyril Beuzit of BNP Paribas in London. Speculation is mounting that the Bank of Canada and the European Central Bank will make similar moves in the next few months.

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