Really efficient markets, no? The
Germans ECB loves a real 10-year negative carry.
This is absurd and tantamount to confiscating the savings of hard working Germans. Only going to add to the country’s already rising political tensions.
As Holger notes, German interest rates should be around 5 percent according to the Taylor Rule.
Nevertheless, gotta play the hand you’re dealt. Complaining ain’t gonna keep the lights on. What a golden opportunity when the European bond market breaks.