Pigs still can’t fly and hell hasn’t frozen over, but interest rates have gone negative, and that’s weird enough. In early March, about a quarter of the debt issued by euro zone governments traded with negative yields.
I have a lot of bad habits. For example, I tend to bite my nails when I get stressed out. I also have a penchant for opening the cupboard to get a drinking glass — then walking away and leaving the door wide open. I know. I can’t explain it either.
On the eve of the financial crisis, Capital Group was king of the mutual fund business—even though most investors had never heard of it. The Los Angeles-based company’s American Funds unit ran seven of the nation’s 10 biggest funds, including the largest of all, the $193 billion Growth Fund of America.