July 21, 2016
Second Quarter 2016
Not only was the second quarter one for the record books, it was a quarter of many firsts. It was the first time a country voted to leave the European Union in its current form. It was the first time the yields on government debt from several sovereign stalwarts (including Germany and Japan) dropped into negative territory. The yield on 10-year government debt in Japan, Germany, the United Kingdom, Switzerland and Australia reached record lows. In addition, the amount of negative-yielding global government debt reached record highs.