There's never been a better time to be deep in debt.
A dearth of safe assets, low rates and central bank purchases are keeping bond yields low and are likely to continue doing so for years to come. But governments are missing out on this opportunity to finance investments, partly because of their focus on gross debt-to-GDP ratios.
Scientists usually study weather as a consequence of global climate patterns — an output rather than an input. But new research by scientists at the Pacific Northwest National Laboratory (PNNL) is a reminder that weather can be analyzed as both a cause and an effect.