Dutch interest rates have not been lower in 500 years

My local optometrist keeps telling me monetary policy should be tightened, that it’s not healthy for rates to be this low. The Bank of International Settlements more than agrees with him, but on a global scale.

Dutch interest rates have not been lower in 500 years 1404912348376.jpg-620x349

Dutch interest rates have not been lower in 500 years 1404912348376.jpg-620x349

It’s one thing for the central bankers’ central bank to warn of cheap money distorting the world’s markets, but it’s another for more comprehensible anecdotes to start adding up to the trillions. In short order:

At the riskier end of the bond market, the Bank of America Merrill Lynch Global High Yield Index has soared to more than US$2 trillion. Last year a record US$477 billion worth of high-yield bonds were sold, but US$340 billion worth have been offloaded in just the first half of 2014.

Dutch interest rates have never been lower, not in 500 years.

Fuelled by cheap money, there are more American mergers and acquisitions underway than there were at the previous peak in the heady pre-GFC days of 2007.

The Japanese government is lending trillions of yen to Japanese banks for almost nothing, at just 0.1 per cent, but the banks are turning around and giving the money back to the government by purchasing bonds at a fraction more than almost nothing. In the past three weeks, the yield on four-year JGBs has fallen from 0.131 per cent to 0.108 per cent.

The Australian mortgage securitisation business is back in full swing with second-tier banks able to get as much funding as they desire at record low rates.
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Dutch interest rates have not been lower in 500 years PgkowJT

Dutch interest rates have not been lower in 500 years PgkowJT

Dutch interest rates have not been lower in 500 years

Dutch interest rates have not been lower in 500 years

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