0413 GMT - The investor appeal of major bond markets is crumbling in a very orderly manner, says Sean Callow, strategist at InTouch Capital Markets. There's no panic, just an increasingly clear picture of sticky inflation reinforced by fading hopes for a return to pre-Iran war oil prices, he adds. The notion of political leaders running on fiscal prudence seems almost quaint, Callow says. The U.S. declaration that it can just grow itself out of its debt burden only adds to global jitters. Little wonder we have had such a strong investor preference for equities this year, Callow adds.