Commentary
Central banks don’t manage risk, they disguise it. You know you live in a bubble when a small bounce in sovereign bond yields generates an immediate panic reaction from central banks trying to prevent those yields from rising further.
Yield Curve Control: Another Recipe for Stagnation
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The euro logo is pictured in front of the European Central Bank (ECB) in Frankfurt/Main, Germany, on Oct. 26, 2014. Daniel Roland/AFP/Getty Images
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