From the AFR:
European investors, pension funds and insurance companies traumatised by negative benchmark interest rates are looking at Australia as an “undiscovered” haven for yield that will continue to drive up the currency, says the chief economist at the world’s biggest reinsurer, Swiss Re.
In an interview that highlights offshore attitudes to Australia as an investment destination, Kurt Karl, warns “growth thwarting” European, British and Japanese monetary policy will lead to further distortions in bond yields.
