Real yields can’t move much lower?
They got as low as -5% in the 70s.
That was also during two major bull markets for gold.
Historically indebted corporations & governments can’t take higher yields.
Monetary & fiscal stimulus are here to stay. pic.twitter.com/FmPu4OAcYY
— Otavio (Tavi) Costa (@TaviCosta) August 7, 2020