Investing may be compared with seafaring. When operating in the financial markets, we are effectively engaging in a voyage carrying a valuable cargo to a faraway destination.
Long treasury bonds in particular are lauded for their security. Although there is no risk to the coupon, higher inflation is a significant risk to long term purchasing power and higher interest rates are a short tern risk to capital.
The Wall Street Journal's 4-part film on how Europe has arrived at the brink of financial collapse, the major macroeconomic event impacting markets at the start of 2012.