Havens Crushed as Risk-Off Trade Implodes

The video discusses the current state of currency exchange rates, particularly the yen to dollar, and the performance of risk assets. It highlights the challenges faced by investors in safe havens due to low or negative returns. The video also compares the performance of equities and bonds, noting that equities have outperformed despite a long bull market in bonds. It concludes with a discussion on the potential for increased risk appetite if global trade tensions ease, and the need for increased capital investment to boost productivity.

Discuss the implications of negative real returns on safe havens.

What is the significance of capital investment in relation to productivity?