let me get this clear: investors in Europe and Japan are buying bonds for less than the final payment (original purchase price) plus interest to be earned till redemption.
Why is this ludicrous situation happening? It's that warm fuzzy feeling investors get when they know they are dealing with sovereign debt that's being manipulated by Central Banks..
Spongy debt is an asset? At least you won't lose everything like the stock market...........wanna bet?
