Here are some numbers: the core of the massive distortion is in govt debt. This was in Fall of 2014 where half of govt debt yields less than 1%, it's actually g

Here are some numbers: the core of the massive distortion is in govt debt. This was in Fall of 2014 where half of govt debt yields less than 1%, it's actually gotten worse since. http://www.bloomberg.com/news/articles/2014-09-04/almost-half-of-government-bonds-yield-less-than-1-bofa-says http://www.bloomberg.com/news/articles/2014-09-04/almost-hal... Negative(?!) yield 10-years. http://www.reuters.com/article/2015/04/08/swiss-treasury-idUSL5N0X52TR20150408 http://www.reuters.com/article/2015/04/08/swiss-treasury-idU... Anyone would be hard-pressed to say that this is a well functioning market.