France sells bonds at negative interest rate. “France’s government has sold short-term bonds at negative interest rates for the first time, a sign of investor confidence despite concerns about French debts and the wider eurozone.” Confidence? Nice Try. It’s called “flight to safety” and is a sign that investors expect a collapse of the broader economy, otherwise there would be no reason to lend money to the gubbermint and get less back. Japan sold bonds at negative yields at times during their 20+ year Keynesian wreckovery.
Author: Bonfire of the Absurdities
After 35 year career writing software for IBM mainframes, am now self-employed contractor thinking of joining a union and striking for higher wages. Cured morbid fear of heights when I learned to look at them as lengths standing on end. Uncompromising in refusal to accept browser cookies. Amateur investor who has accumulated a small fortune in the market after starting out years ago with a large one. For recreation, I run, hike, kayak and play tennis but will not consider synchronized swimming under any circumstances.
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