In Search of Safe Havens: The Trust Deficit and Risk-free Investments!
Musings on Markets
AUGUST 15, 2023
I was reminded of that paper a few weeks ago, when Fitch downgraded the US, from AAA to AA+, a relatively minor shift, but one with significant psychological consequences for investors in the largest economy in the world, whose currency still dominates global transactions. Why does the risk-free rate matter?
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