If you happen to be the only one with negative interest rates, you also weaken your currency, which means you make your exports more competitive.
Mohamed El-ErianAs a whole, investors should welcome attempts to safeguard the integrity of markets. You need very clear rules applied to markets.
Mohamed El-ErianMost people are under exposed to global assets, including foreign stocks, bonds and currencies.
Mohamed El-ErianIt is hard to imagine that, having downgraded the US, S & P will not follow suit on at least one of the other members of the dwindling club of sovereign AAAs. If this were to materialise and involve a country like France, for example, it could complicate the already fragile efforts by Europe to rescue countries in its periphery.
Mohamed El-Erian