About a quarter of the global issue of government bonds issued around the world offer negative yields, the Luxembourg Times report.

For fixed-income investors such as pension funds, this appears to be the “new normal” both in Europe and in Japan.

Both the German and the British economy have seen negative growth over the second quarter of 2019. For Germany, there has been a slump in exports, as its manufacturers bore the brunt of a global slowdown amplified by tariffs. For the UK, there has...

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