The third quarter was a painful one for fixed income investors as government bond yields rose dramatically across developed markets. In the U.S., a confluence of factors drove yields higher across the curve - the commencement of a Fed hiking cycle under Chairman Warsh, a strong labor market, resilient domestic growth, and the ongoing conflict in Iran driving oil prices higher. Where does that leave us now? While bond market investors felt the pinch of negative total returns in the quarter due to higher yields, the relative attractiveness of bonds is the strongest in years…