By Colin Lloyd
Following on from my previous article, "The Pension Fund Apocalypse," these are just a few of last month's stories.
- Danske Bank ([[DNSKF]]) of Denmark introduces the first negative 10-year fixed-rate mortgage.
- The German Finance Ministry voices disappointment at the lack of demand for 30-year zero-coupon bonds.
- The U.S. and Sweden contemplate issuing 50-year and 100-year bonds.
These are all cause for concern.
Excessively low interest rates support assets, favor the rich over the poor, favor the rentier over the business investor, encourage leverage and stock buybacks over capital expenditure and