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The World Now Has $13 Trillion of Debt With Below-Zero Yields

  • Fed and ECB stoke global bond rally on openness to easing
  • Yields on Japan’s bonds dragged to lowest since 2016 BOJ shift

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The universe of negative-yielding bonds grew about $1.2 trillion this week after dovish messages from central banks in Europe and the U.S., pushing the total past $13 trillion for the first time.