German Yield @ -0.41

Fed Joins Race to the Bottom in Global Rates

We are now in a world of zero interest rates (ZIRP), negative interest rates (NIRP), distorted market prices and financial repression, an orchestrated circus coordinated by the same faces that sit on the (BIS) and the . Who moves first with the cuts is not important, but have no doubt that its a tag team effort, moving interest rates down in lockstep. As Holger Zschäpitz of Germany’s Welt commented today:

From a tweet.
Totally absurd: Investors are paying #Germany more and more to lend the country money. Berlin sold €2.345bn of 10y debt at fresh record low yield of -0.41% vs -0.26% at Jul auction. Bid-to-cover rose to 2 from 1.2 at July 10 auction.