Swiss Economicblogs.org
When x happens, yields fall — Rule 1? It’s not a search for yield, it’s a search for safety — Potential Rule 2? Two charts to make the point for us once again from the good folks at BofAML’s relative value department: Click to enlarge. You could also pop in here and have a look at Credit Suisse’s roughly similar argument (and the state of the negatively rate inspired corporate bond market). CS’s point has to do with...
Read More »Return is “not really a function of yield”
