by Alasdair Macleod, Gold Money:
It wasn’t meant to be like this: six years of global money-printing should have guaranteed economic recovery. Until very recently, there was hope that finally the medicine was having some effect; but in the last few weeks investors have become noticeably more cautious. Is it Ukraine, or is it the slow-down in China?
The Long Bond yield is leading the way downwards, having broken below the 3.5% level, and the 10-year bond seems set to follow its lead. Eurozone bond yields have also collapsed signalling either outright deflation or possibly, given its proximity to Ukraine, a flight from bank deposits.
This week the Ukrainian situation escalated with Russia’s Crimean strategy emerging in other eastern cities. Peace talks in Geneva today are not expected to improve things.
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