For all the hype about bitcoin, far more investors are exposed to an $8 trillion bubble in financial markets.
It’s all the government and corporate bonds that still have negative yields eight years after the financial crisis, according to Torsten Sløk, the chief international economist at Deutsche Bank.
This is not normal, and it is a legacy of the amount of stimulus that global central banks had to pump into their economies after the recession, partly by buying massive amounts of government bonds. Investors bought these bonds for their perceived safety and because some institutions like banks were required to.
