By Michael Pento of Pento Portfolio Strategies
November 16 (King World News) - “This Is Going To End In An Unprecedented Catastrophe”
The central banks of Japan and the U.S. are killing the private market for government debt. The massive and unprecedented bond-buying programs for Japanese Government Bonds (JGBs) and Treasuries have driven yields so low that investors are now simply stepping aside from involvement in that market entirely.
Monthly trading of JGBs has fallen to just $385 billion, the lowest level on record, clearly illustrating that private institutions are no longer comfortable holding Japanese debt....