I dont think enough people go into crypto or gold for that matter where it will have much of a difference.
Negative interest rates will likely force more money out of bonds and into equities.
This is the biggest reason for the run up in the markets...traders and investors look for a return. Even a kid can figure out that negative interest rates do not provide a return to the holder.
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I guess it's a matter of where people put their cash - I was reading recently about the negative bond - where you get less than you put in to help prop up the economy during Covid.
Sounds like a real way to feed on people's paranoia - 'invest in this and we promise it will only get a little bit worse'...
Equities quite possibly yes.
I do wonder who holds cash these days anyway!
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