by Simon Black
Now it’s $13 trillion.
That’s the total amount of government bonds in the world that have negative yields, according to calculations published last week by Bank of America Merrill Lynch.
Given that there were almost zero negative-yielding bonds just two years ago, the rise to $13 trillion is incredible.
In February 2015, the total amount of negative-yielding debt in the world was ‘only’ $3.6 trillion.
A year later in February 2016 it had nearly doubled to $7 trillion.