February 9, 2016
IT'S A DEFLATIONARY EPOCH:
Yield on Japan's 10-year bonds falls below zero (Phillip Inman, 9 February 2016, The Guardian)
A rush to "safe-haven assets" has sent the interest rate on Japanese 10-year bonds plummeting below zero, the first time in the history of government debt that the yield on a G7 country's 10-year bonds has been negative.The interest rate on the 10-year Japanese government bond (JGB) touched minus 0.01% in trading on Tuesday.
And Japan is not a safe haven. Only the US is.
Posted by Orrin Judd at February 9, 2016 1:26 PM