When I was about 14, I made my first visit to the US, a holiday on the West Coast that took in Disneyland in LA. Having spent my childhood visiting Barry Island’s and Porthcawl’s fun fairs, I was blown away by the bigger, shinier, cleaner but much more expensive US equivalent. Driving the dodgems to the soundtrack of the Bay City Rollers was never the same again.

Bond fund manager Stuart Chilvers explains why lower interest rates won’t sap corporate bonds’ juicy income yields straightaway.