Negative rates can do a lot more damage yet: a Nordic warning

After half a decade of negative interest rates, one of the biggest Nordic pension funds is wondering whether this is just the beginning.

Ilmarinen CIO Mikko Mursula | Photo: PR / Ilmarinen

The head of investments at Finland’s Ilmarinen Mutual Pension Insurance says his industry is "just starting to see what kind of new challenges [negative rates] will cause."

That means “we are just taking the first steps” in portfolio adjustments, Mikko Mursula said in an interview in Helsinki. He says reality hit after the summer, when it became virtually impossible to get government bonds at positive yields across most of the euro zone.

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