Head of Global EM rates at HSBC, Andrew De Silva, sees opportunity in non-negative sovereign bonds, such as Australia, and believes rates might never go up.
‘Central banks don’t have a choice.’
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Still trying to find out what a hella nom is, who makes it/them, and if it’s a buy ?!?
Some people in Oregon translated the MSFT message here:
http://www.oregonlive.com/trending/2016/07/microsoft_recruiter_tells_bae_interns_its_about_to_be_lit.html
They translated “hella noms” as “tons of food.”
hella: short for “hell of a lot of” = “lots of”
noms: from one of the sounds people make while eating (try sayign “nom, nom, nom” quickly) = food
Rates will never rise, just like US housing prices will never fall…
However, he’s essentailly right in that banks will never raise rates significantly in the near future because:
1) finanical and asset markets are hinged on ever lower rates
2) the middle class is getting relatively poorer which drives defaltion in popular pricing indexes, so CBs are under no pressure to raise rates.
Eventually, CBs will lose control. However, it’s likely to hit Japan (JGBs) before the US, so that’s the canary to watch