, Columnist
Germany's Bond Market Is a Global Problem
Sinking debt yields show Europe’s largest economy is in a doom loop that will be hard to escape. Also, reflexivity and markets.
There’s not much to cheer in Germany’s economy these days.
Photographer: Adam Berry/Getty Images EuropeThis article is for subscribers only.
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Germany has a dreadful case of the Vapors. For those who were not brought up in the 1980s Britain, what I mean is that, to quote the immortal words of the great one-hit wonders The Vapors, Germany is turning Japanese. Its problem is now so extreme that before long Japan might have to start worrying about turning German.