Maybe Negative Yields Are a Sign of Prosperity

Think of super-safe securities with below-zero interest rates as inexpensive insurance on the world's rising wealth.

Zero percent yield.

Photographer: Mark Wilson/Getty Images

Just when it seemed that negative yields could not spread any further, they did. Corporate bonds paying negative interest rates now account for about $512 billion of market value, bringing the world close to a total of nearly $10 trillion in securities with yields below zero. Most are government securities.

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