(Forbes) The global volume of debt carrying negative yields now stands at $17 trillion. Under the circumstances, it hardly qualifies as a bold prediction that bond investors will incur substantial losses at some point down the road. Neither does it represent outside-the-box thinking for self-styled truth-tellers to declare that the eventual interest rate rebound that inflicts those losses will be followed by a recession.
That series of events would amount to a fairly ordinary economic/market cycle........