German Bund Yields & The Cost To Solvency: What Fresh Hell Is This? (12/02/19)


Lasciate ogne speranza, voi ch’intrate (Abandon hope all you who enter here) 

Inscription on the Gates of Hell, from Dante’s Divine Comedy

Your author does not need a politician of the European Union to assign him to his special place in hell. Dante, author of The Divine Comedy, allotted anyone who tried to forecast the future to the eighth circle of hell – Malebolge. In Malebolge the fortune tellers, with their heads turned back to front, walked backwards through the fourth Bolgia unable to see anything for their tears. Dante himself may well have ended up in Malebolge given that rather accurate foretelling of life at the modern morning meeting in an investment bank! Similar such meetings in German Pensionskasse must today also be fraught affairs as those with legal responsibility look at the dive in German Bund yields and ponder their solvency. What fresh hell is this?

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