investment outlook

A Fungus Grows in Global Finance

WSJ: “European Firms Borrow at Subzero Rates” “Capitalism, almost commonsensically, cannot function well at the zero bound or with a minus sign as a yield. $11 trillion of negative yielding bonds are not assets ” they are liabilities. Factor that, Ms. Yellen into your asset price objective. You and your contemporaries have flipped $11 trillion...
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