July 2019 Client Letter
You may have concerns about today’s environment and how a variety of risks could impact the long-term health of your finances. One of the biggest concerns we all face is interest rates that have been so low for so long.
Jim Grant writes in his Grant’s Interest Rate Observer newsletter, “almost $13 trillion in debt world-wide is priced to yield less than nothing. Mostly, it’s just a little less than nothing, but, still, a little less than nothing isn’t much to retire on.” He calls this a 4,000-year low in bond yields.