Denmark and Poland and Sweden also have a Central Bank and unique distortions in the credit markets. Very few people pay attention to them, getting information

Denmark and Poland and Sweden also have a Central Bank and unique distortions in the credit markets. Very few people pay attention to them, getting information is tricky. The nordic credit market is its own animal centered in Norway, but all the countries want business. They are trapped because the Eurozone is a behemoth and the yield curve distortions there are like a gravity well, and the cultural sentiment of speculators or general people is the same or has the same inputs, so they must go steeper in negative yields faster or expand their universe of investible assets faster. Pay attention to the corporate credit market. The steeper the yield curve goes, the more it drags down the cost of credit for corporate issuers. Getting aggregate corporate credit information in these markets is hard but rewarding, you can predict what to expect - investment grade corporations bonds yielding 0% possibly issued at 0% - but it is hard to confirm the market appetite. This is where we are right now in market efficiency.