GIULIETTA TALEVI: Rage against the money machine
The destruction of the interest rate has comprehensively changed the game for investors, who are now having to look at riskier assets — like equities or gold — to get any kind of yield
There’s another aspect of the Covid-19 pandemic having a profound effect on all our lives, be we pensioners, first-time savers, seasoned investors, or borrowers: the destruction of the interest rate.
For a good part of the 20th century, you could get a return on your money by simply sticking it in the bank. Buying bonds was de rigueur for any pension or market portfolio...