What was supposed to be a march back to normalcy for interest rates began just about two years ago.
You can also get a reading on what’s expected for the economy by looking at what’s happening in the bond market. Nothing good is happening right now, unless you’re looking at a five-year fixed rate mortgage. Another negative beyond falling rates in the bond market is the unusual situation of interest rates on short- and long-term bonds sitting at pretty much the same level. Long rates should be higher than short rates to reflect the greater risk investors take on with a bond maturing many years down the road. When short rates are the same as long rates – or higher – it means investors are worried about longer term growth prospects.
Here’s an indication of how much worse things could theoretically get on borrowing costs: Between 2000 and 2009, the overnight rate peaked in the 4-per-cent to 6-per-cent range, double or triple current levels.
globeinvestor The high interest rate hammer will never drop because the “struggling borrowers” are the very governments that control the so-called “independent” central banks.
globeinvestor The banks do NOT dare raise rates. Or they bankrupt us all. All of us.
globeinvestor And the savers continue to get punished.
globeinvestor
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