Having just finished my post about David Stockman's article on subzero yields, I came across this article on CNBC: Greenspan says "there is no barrier" to negative yields in the US.

With global central banks engaging in unprecedented monetary easing, a record $15 trillion of government bonds worldwide now trade at negative yields. As uncertainty reigns, investors are looking for a safe haven for their money, even if it means getting back less than they gave.

 

“Why people continue to buy long-term Treasurys at such low yields may be also due to forces having altered people’s time preferences,” Greenspan said. “But there is hundreds of years of history showing the long-term stability in time preference, so these changes won’t be forever.”

Sounds like fancy Fed-speak for "you're getting screwed no matter where you put your money."

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