What negative rates are really telling us

Across much of the Western world, negative rates are now commonplace. John Addis explains what this means for the kind of stocks to add to your portfolio.

Slowly, a bedrock rule of finance has been stretched to the point of fracture. It used to be that if someone borrowed from you, they paid for it in the form of an interest rate. Savings account holders might deem it negligible and credit card holders will no doubt rail at the obscenity of paying 18%, but we could all agree that when borrowing money, we paid for it. No longer. Now depositors are being charged to deposit funds.

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