gundlach

  • Economy, Market, Risks

    License to Yield: How Bond Actions Affect S&P 500 (and Others)

    It has been more than a decade since the first time negative interest rates were introduced in 2009, by Sveriges Riksbank, central bank of Sweden in overnight deposit rate. However, the real negative interest rate policy (NIRP) were introduced broadly since 2014, which was called one of the greatest monetary policy experiments. Later, it was adopted by Bank of Japan in 2016, in which ultra-low negative interest rates were already introduced previously in post-1997 Asian Financial Crisis period. Euro area deposit facility graph (tradingeconomics.com) Bank of Japan interest rate decision