BoJ Looks Set to Shift Out of Its Negative-Rates Policy
And bonds are trading off across the planet
Highlights
• “Risk-off” is written all over global markets this morning
• Don’t extrapolate the BoJ’s potential abandonment of negative rates to U.S. Treasury yields
• The Canadian consumer’s health has taken another turn for the worse
• U.S. households are badly under-invested in bonds
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