Low / Negative Interst Rate’s Legacy

In all of global human history, interest rates have never been this low.  Indeed, Europe has trillions of Euro bonds yielding a negative interest rate, meaning that an investor pays for the privilege of having lent to a borrower with its attendant credit exposure, and agrees beforehand to get less in return than he originally “invested”. America’s fixed income yields have been declining for over thirty years, and now are also at record lows – hovering close enough to zero such that some expect negative rates to come to our domestic market in the not too distant future.