Like many of you, I have spent a lot of time recently wondering why so many investors are parking their money in US Treasuries, which offer painfully paltry yields.
But when I turned on my television a few nights ago and saw Michael Jackson come back from the dead to perform on a Las Vegas stage, I began to appreciate the appeal of a 10-year government note paying about 2.5 per cent a year.
This week’s Jacksonian resurrection, of course, was an illusion. The biological Michael left us nearly five years ago at the age of 50. The Billboard Music Awards audience was treated to a hologram – a three-dimensional image – miming a song that was recorded by Jackson nearly a quarter century ago and released this month.
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