Value Lies in the Eye of the Holder
— August 24, 2016There has been plenty of ink spilt lamenting how Central Banker’s policy have distorted bonds. In the U.S., one can still find Treasury bonds with a positive yield but globally over $13 trillion of sovereign bonds have negative yields. The poster child for this insanity is a 50-year Swiss sovereign bond which yields negative .023%. Try to make […]
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