当债务飙升时,实际利率则表现为深度负值

往往当美国债务飙升时,实际利率则表现为深度负值

looking at 200yrs of smoothed US 10yr ‘real’ yields + debt-to-GDP ratios shows that real yields have always been deeply negative when debt burdens soared As I’ve said: periods w/ huge debt loads = chronically low rates Thus via history real yields have much lower to go.

当债务飙升时,实际利率则表现为深度负值

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