Corporate savings Overlooking the obvious

Why are bond yields so low? That is the famous conundrum torturing everyone from the mighty Alan Greenspan to the humblest corporate treasurer. The obvious answer is that the gigantic US trade deficit has given Asian central banks more dollars than they have investment sense, so they are loading up on US government bonds. But not everyone likes obvious explanations. Deutsche Bank has already tried to put the blame on Asia’s savers. So desperate are they supposed to be to buy US treasuries that ...