The global Central Banks, driven by their Keynesian lunacy, have induced the single largest misallocation of capital in history.
Nowhere is this clearer than in the bond market today.
Do the following sound normal?
1) Globally 45% of all Government bonds yield less than 1%.
2) Over 40% of European Sovereign bonds now have negative nominal yields..
3) German bunds have NEGATIVE yields as far out as 8 YEARS.