The Dangerous Stretch For Yield: Mrs. Watanabe Destroyed By Turkish Lira Bonds

It was not just Barclays bankers that took on the chin from Turkey's turmoil, Japan's infamous 'mom-and-pop' investors who snapped up high-yielding lira-denominated bonds "because of the yield" have been destroyed.

Thanks to the ever-present foot of the Bank of Japan on the throat of yields in Japan, small investors "reached for yield" around the world in an effort to 'safely' invest their hard-earned yen for a 'decent' return.

 

https://www.zerohedge.com/news/2018-08-22/it-was-stupid-me-mrswatanabe-battered-turkeys-meltdown

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