“@kimmaicutler: Holy moly. http://www.wsj.com/articles/black-hole-of-negative-rates-is-dragging-down-yields-everywhere-1468174982 … pic.twitter.com/usK8hLHjP7”
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Shift from indeterminate optimism to indeterminate pessimism?
that's the end of rational capitalism. Now it's "there's no alternative".
remember this chart when developers say they have to return 8% to their investors.
are those nominal yields or real yields? /cc @JamesGRickards
FYI cc'ed Rickards cuz he's talked a lot abt nom yields seeming v low, yet real yields actually ~high
if one compares US GDP growth to US debt growth, I am not sure we have had any positive debt yield since 1983.
@crampell what is negative yielding debt?
why would anyone hold negative yielding debt
Some pensions do it because laws. Banks/treasury/Fed to create money
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