Loading ...Re Black hole bonds
A huge point that the article fails to mention, is that in the mad world created by the EU, Pension Funds are mandated by law/Regulators to hold a certain percentage of their assets in what is coyly termed, Highly Liquid Assets, which are defined as Government Bonds….
That’s why the debt keeps selling…….as anyone sane would just leave the money in short term depo’s/outright cash….it’s not a choice, it’s forced financing of lousy government.