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Re:Paul Krugman: The austerity delusion by jhulla on Wednesday April 29, 2015 @05:42PM (#9462012)
This is a good summary of why people might buy negative interest rate bonds:

http://www.vox.com/2015/2/5/7981461/negative-interest-rates-...

e.g. Cash is not secure in your bank account. A government backed bond, even at negative interest, may be more secure than a cash balance.

ZIRP and negative interest rates are pushing people out on the risk curve and raising asset prices.

As I said in an earlier comment, IMHO, all investment decisions are bets on central banks.

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