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Wednesday, 15 June 2016
Eurozone (#EU) Heading For Collpase
The European Central Bank has contributed to the fall in bund yields through its massive bond-buying program, aimed at lowering financing costs across the eurozone.
The numbers are daunting if not shocking: $12.3 trillion of money printing, nearly $10 trillion in negative-yielding global bonds, 654 interest rate cuts since Lehman Brothers collapsed in 2008.
The first chart shows the lowest global interest rates going all the way back to 3,000 B.C. Michael Hartnett, chief investment strategist, and his team at Bank of America Merrill Lynch, say that’s down to a combination of quantitative easing, zero interest-rate policies and negative interest-rate policies. That means borrowing costs are lower than what was on offer at the time of the Pharaohs of the First Dynasty of Egypt (3,000 B.C.) to Napoleon through to Alexander Hamilton and right up to those living through the crash of 1929:
Canada's corporate sector is being weighed down by a mountain of junk debt worth at least US$70 billion. Bloomberg News' Allison McNeely reports.
Investments in renewable energy made up more than half of all private investments last year, signaling a low-carbon shift is under way, the World Bank said. A report from the bank finds global private investments held relatively steady from 2014 to total $111.6 billion last year. Investments in renewable energy, however, were higher in 2015 than during the past five years. “Solar energy investments climbed 72 percent higher than the last five-year average, while renewables attracted nearly two-thirds of investments with private participation,” the bank said in a statement. According to its breakdown, the World Bank found South Africa and Morocco led for African investments in renewable energy, Chile led in the Americas and […]
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