Everyone is talking about how interest rates are negative right now. Certainly, rates at the shortest end of the curve will end up being a negative real return on maturity. However, bondholders are counting on disinflation or deflation before maturity. Otherwise, the average rate of inflation does not accurately reflect the bond holder’s rate of inflation.
Reading your article helped me a lot and I agree with you. But I still have some doubts, can you clarify for me? I’ll keep an eye out for your answers.