September 22, 2016
My friend Peter Boockvar sends out 2 or 3 missives a day on activities in the market, and I read them almost religiously to keep up with what is going on. He is a very astute observer of all things that have to do with economic data.
This is his comment on the Japanese central bank decision yesterday, and he makes the interesting observation that global interest rates may have finally bottomed as central banks are beginning to realize that negative rates are wreaking havoc with commercial banks. I hope our own central bank will take note and save us from the disastrous effects that negative rates would have on the world's reserve currency here in the US. Peter's note is short and sweet, as usual.