- There is now $8.3T of global government bonds with negative yields, according to JPMorgan - that's $8.3T in which borrowers are getting paid to borrow.
- According to BAML, world interest rates are the lowest in 5K years.
- The Bank of England was once thought to be ahead of the Fed on policy tightening, but today rate futures markets are pricing in a 50% chance of a rate cut by the end of the year. No rate hike is fully priced in until June 2020.
- The yield on the 50-year Swiss government bond is below that of the one-month U.S. Treasury.
- Previously: Gross: Rate regime creating a "supernova" (June 9)
- ETFs: GIM, BNDX, BWX, IGOV