First the the answer. Denmark cut official interest rates on its certificates of deposit to MINUS 0.2%. We now have negative nominal interest rates on short dated government bills or bonds in several countries – including Switzerland, Finland, France, Denmark, and Germany.
We had 167 correct answers, and out of the hat came the following 10 winners who each get of a copy of “Debt: The First 5,000 Years” by David Graeber. And yes, we are aware that David Graeber isn’t the greatest fan of capitalism and markets – but even bond fund managers sometimes need to take a break from reading “Atlas Shrugged” and Milton Friedman.
Richard Cavey (The Chester Partnership Ltd), Mark Wharrier (Newsmith), Robert Harper (Brewin Dolphin), Paul Wilson, Stephen Buckle (Kingsfleet Wealth Ltd), David Thornton (Premier Asset Management), Andrew Wilson (Brooks Macdonald), Gary Laing (Deutsche Bank Private Wealth Management), Tom Winstanley, Edward Fane (Thesis Asset Managment plc)
We’ll be in touch with the winners for your contact details and your books will be with you shortly. Congratulations and thanks for all the entries