@PeterBofinger@ecb many factors at play: bad market sentiment during Q4 2018, lower stocks and a flight to quality. Dovish Fed at the start of the year reminding markets that there still is a central bank put in place. BoJ and ECB followed with a dovish stance. Trade War. The list goes on ...
@PeterBofinger so true. Re Bunds <0%. Investors are willing to pay a fee for a safe haven, but are doing this with the prospect of earning capital gains in a worsening market environment. also, these thoughts are worth sharing https://t.co/heIS4WTYYj
If not, worse things will happen. If you’re interested in what I have to say about the broader dynamics at play (i.e., Monetary Policy 3, of which MMT is one of a million possible versions) please read the article yourself which you can find here: https://t.co/HWbLlxVKkU