NEW YORK - Global bonds rose 1.4% in U.S. dollar terms in 1997, according to the J.P. Morgan Government Bond Index Global.
In local currency terms, the index rose 9.5% for the year, with all 13 included countries registering gains.
In dollar terms, the U.K. market was the top performer, gaining 10.43%, followed by the United States, up 10%.
The Netherlands fell 8.97%, landing in last place.
The J.P. Morgan Emerging Markets Bond Index rose 3.4% in December, and 13.02% for the year. In 1997, Bulgaria's market led the pack, with a whopping 54.95% jump.
The Philippines' bond market, which fell 1.22%, was the only market to post a decline in this category.