Howard Gold’s No-Nonsense Investing: We haven’t seen interest rates this low since before Hammurabi, so what bonds should you buy?

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The Code of Hammurabi.contains one of the earliest records of interest rates.

A couple of weeks ago Jim Bianco, president of Bianco Research, posted that Swiss two-year bonds, yielding negative 0.91%, were close to their all-time lows below negative 1.0 %, which they hit back in 2015.

He added these might be the lowest rates ever recorded. I checked with the author of the definitive book on interest rates, Richard Sylla, professor emeritus at NYU’s Stern School of Business, and he confirmed it.

As negative interest rates spread even to emerging Europe, they’re signaling slowing economies or incipient recessions on the continent.

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