To listen to some talking heads, everything is beautiful.
But according to the bond market, everything is not beautiful. In fact, there is concern about global economic growth and financial fragility.
There is now $10 trillion in negative yielding bonds in the global economy.
And in Europe, there are 16 nations with negatiive 2-year sovereign yields, including Germany and France.
Notice that the short-end of the yield curves in Europe and Japan are negative.
People get ready for negative Central Bank rates in the USA!
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