On one of the three Friday the 13ths in this year's calendar, RWC's Ian Lance outlines a number of strange scenarios currently observable in financial markets.
$3.6trn of government debt, or in other words nearly a fifth of all global government debt, is now trading with a negative yield, and yet last week EPFR data showed inflows to all fixed income funds of $16bn - the highest on record going back to at least 2008. €1.5trn of euro area government bonds over one-year maturity have negative yields, and yet Mario Draghi thinks if he can just get interest rates down a bit further, he can turn the European economy around. The fact that the S&P 500 is close to its all-time high would tell you the US economy is firing on all cylinders, and yet the ...
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