At that time, bond funds were just a small part of the industry. In 1960, there were 161 mutual fund funds and only 12 bond funds, accounting for 6% of the assets. By the end of 1970, the only source of mutual fund data at that time, wiesenberger investment company's industry yearbook, did not even include bond funds. But I'm an unusual person who started to create bond funds when I became CEO of Wellington in 1965.
In May 1969, the industry journal institutional investors published a report attacking the bond market. The cover of this issue is a huge dinosaur, with the title: is there any investment value in the bond market? The author's position is certainly negative.