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Negative interest rates are wonderful, writes Izabella Kaminska, if the objective is to kill off...

Negative interest rates are wonderful, writes Izabella Kaminska, if the objective is to kill off banks and insurers. Earnings are already under enough pressure and flat/inverted curves at the short end are hurting even more. Add this to the growing list of unintended consequences of central bank actions, and as a caution to the Fed as it debates cutting deposit rates to zero.
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