Quite a lot of people, to judge by what has been happening in the bond market.
Bank of America research suggests that, of the current $100tn worth of debt currently outstanding worldwide, some $11tn worth of it is trading on a negative yield.It was a phenomenon seen at the height of the eurozone sovereign debt crisis, in 2012, but conditions had somewhat moderated since.So why has the phenomenon returned?There is growing unease about a possible global recession following a slowdown in a number of leading economies.
The country is also still sweating on whether Donald Trump will follow through with a threat to raise tariffs on cars and car parts exported from Europe to the US - the most important export market for German carmakers. But worries were reignited when, on Tuesday, another survey pointed to a drop in consumer confidence despite there being record numbers of Germans in work and wages growth comfortably outstripping inflation.