The Sub-Zero Club: Getting Used to the Upside-Down World Economy

In the new reality of negative rates, borrowers get paid and savers get penalized

Japanese families seem to have a sudden affinity for home safes. According to the Tokyo-based manufacturer Eiko, shipments have doubled since last fall. And in Germany, insurer Munich Re has stashed some 10 million euros ($11.4 million) worth of its own cash into vaults.

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