You're Not Sorry

Negative Yielding Sovereign Debt – You’re Not Sorry by Jeffrey Miller, Miller’s Market Musing

All this time I was wasting,

Hoping you would come around

I’ve been giving out chances every time

And all you do is let me down

And it’s taken me this long

Baby but I figured you out

And you’re thinking we’ll be fine again,

But not this time around

Taylor Swift, You’re Not Sorry

This letter is going to be full of weird mismatched analogies. I’m sure you’ll be ok. It goes with this weird, mismatched market we are forced to navigate. Some weirdness we’ve discussed at length: trillions of dollars of negative yielding sovereign debt, a...