Play pass the parcel, selling the bond for a higher price as the yield sinks lower. This has a limited lifespan and is very dangerous when the music stops.
The only problem is Germany is not laughing; it is in recession and there's no sign the easy money is being recycled back into the economy. Mr Panigirtzoglou said the squeeze on pension and superannuation funds, as well as insurers, has seen benefits reduced, and/or demands for contributions increased.
As central banks have slashed interest rates again and again to try and stimulate already over-indebted economies, inequality has surged.
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