Much has been made of the outcropping of negative yielding bonds across the globe.
Some $13 trillion in sovereign debt now bears a negative yield, which means that investors get back less than their original investments for the privilege and perceived safety of owning government-backed debt.
It’s an odd dynamic in markets but one that has proliferated after more than a decade of monetary-policy unorthodoxy intended to juice stubbornly low inflation and anemic growth in Europe and parts of Asia.
