The $10 Trillion Pool of Negative Debt Is a Late-Cycle Reckoning
- Low bond yields spur rush for risk late in the business cycle
- Investor at TwentyFour Asset in capital-protection mode
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The stockpile of global bonds with below-zero yields just hit $10 trillion -- intensifying the conundrum for investors hungry for returns while fretting the brewing economic slowdown.
A Bloomberg index tracking negative-yielding debt has reached the highest level since September 2017 as 10-year bunds trade in negative territory and the U.S. yield curve flashes recession warnings.