PONDER THIS ROBIN…$12.5 TRILLION OF DEBT PRICED AT A NEGATIVE YIELD…THE CREDITOR IS PAYING THE BORROWER…PERHAPS THE ULTIMATE BLACK SWAN EVENT
Last week, the 10-year Treasury dipped below 2% for the first time since November 2016. Six months ago the most bullish Treasury prognosticator was predicting a 2.50% rate and the consensus view was ...