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And they scoff that gold doesn't pay interest, though leasing it does
The World Now Has $13 Trillion of Debt With Below-Zero Yields
By Adam Haigh
Thursday, June 20, 2019
The universe of negative-yielding bonds grew about $1.2 trillion this week after dovish messages from central banks in Europe and the U.S., pushing the total past $13 trillion for the first time.
Joining the club of government debt with 10-year yields below zero this week were Austria, Sweden, and France. Japanese and German rates plumbed fresh all-time lows amid a global bond rally that even got Wall Street pondering life with Treasuries yields under 1%.
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"The message from the markets is that there are problems out there that central banks, not just the Fed, are now responding to," Ed Hyman, Evercore ISI chairman, told Bloomberg TV.
In Europe, another notable milestone was reached this week. Yields on Danish debt due to mature 20 years from now dropped to a record low, leaving the entire curve within an inch of turning negative. Some 40% of global bonds are now yielding less than 1%, according to data compiled by Bloomberg. ...
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