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As the European Central Bank embarked on 'QE' bond purchases, John Authers uses five centuries of data to show that Dutch yields have never been negative before, even during many periods of deflation. So negative yields are probably due to QE, not fears of deflation.
► Authers’ Note: http://bit.ly/1Liu16x
► FT Markets: http://bit.ly/1J5HNd3
► Will ECB launch full QE?: http://bit.ly/1d3U0Au
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