The greater fool theory is at work in the bond market
Both sovereign and corporate borrowers are raising money at negative rates of interest.
Buy on the assumption that the central banks will play the role of the greater fool through their asset purchasing programmes, thereby providing a profitable exit from a profoundly unattractive investment.
John Plender FT 30 September 2019
Buy on the assumption that the central banks will play the role of the greater fool through their asset purchasing programmes, thereby providing a profitable exit from a profoundly unattractive investment.
John Plender FT 30 September 2019
Kommentarer