Biggest Bond Bubble In History Is Turning Into Carnage
“We’ve intentionally blown the biggest government bond bubble in history,” confessed Andy Haldane, Executive Director of Financial Stability at the Bank of England, to Members of Parliament in London last week. The bursting of that bubble was a risk he felt “acutely,” he warned. There have already been “shades of that.” And he saw “a disorderly reversion in the yields of government bonds” as the “biggest risk to global financial stability.”
And “shades of that,” as Haldane put it with classic British humor, namely understatement, are visible everywhere.
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