As a reminder, the latest Audible $4.95 sale ends on June 13th. The titles that stood out to me are HERE. The full list is available HERE. And if you don't have an Audible membership yet, you can sign up for a free trial, with comes with 2 free books, HERE.
Latticework of Mental Models: Cognitive Dissonance (LINK)
Eric Schmidt on Charlie Rose (video) (LINK)
Exponent podcast: Episode 082 — A Podcast About Podcasts (LINK)
PacifiCorp is at the heart of Berkshire Hathaway Energy’s growing utility empire. We recently sat down with Stefan Bird, president and chief executive of their Pacific Power unit, in his Portland office for a wide-ranging discussion.Foreign Demand Soars for U.S. Treasurys, the ‘One-Eyed King [H/T @jasonzweigwsj] (LINK)
The global hunger for U.S. government debt is intensifying as investors seek better returns from the negative yields and record-low rates found in Japan and Europe.
On Thursday, an auction of 30-year Treasury debt attracted some of the highest demand ever from overseas buyers, at a yield of 2.475%, the lowest for the 30-year bond since January 2015.
It was the second sale in as many days to draw strong foreign interest. On Wednesday, the Treasury sold $20 billion of 10-year notes with a record share going to buyers outside the U.S., offering a yield of 1.702%, down sharply from the 2.461% investors got a year ago.
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U.S. Treasurys are the “one-eyed king,’’ said David Keeble, global head of interest-rates strategy at Crédit Agricole SA. “There is just a shortage of yield on the planet.’’
The 30-year German government bond yielded 0.63% on Thursday. The bond of that term in Japan was even stingier, at 0.30%. In Switzerland, the 30-year bond yielded 0.07%. Bond yields move inversely to prices.
The 10-year Japanese and Swiss bonds both yielded below zero.
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Bill Gross of Janus Capital Group Inc. said in a comment on the firm’s Twitter feed that global yields were the lowest “in 500 years of recorded history” and warned that the large mass of negative-yielding bonds around the world is “a supernova that will explode one day.”