Watch the full 29-minute interview at http://www.goldmoney.com/grant-interview. James Grant of Grant’s Interest Rate Observer (http://www.grantspub.com/) and James Turk of the GoldMoney Foundation talk about ZIRP and the absence of the bond vigilantes after over 30 years of bull market in bonds. How traders no longer care about fundamentals, like balance sheets, but rather focus on very short time horizons and the spreads between funding costs and yields. How this situation is unsustainable.
