The pick-up was led by demand for capital goods.
But rates also reflect the supply and demand for capital.
Sovereign-bond yields are low because private demand for capital is weak.
As the demand for capital grew, the partnerships were tempted to list their shares.
Demand for capital goods was the largest component of the increase, rising 5.3 percent in June.
Indeed, as companies continue to cut their investment, their demand for capital is shrinking.
Dubious currency, too, he says, helped meet an insatiable demand for capital and credit.
Such crowding out may be modest today, mainly because a slowdown in growth has sharply reduced the demand for capital.
It typically grew in response to an increased demand for capital, often when a major innovation created a new market.
(Before the railroads, with their huge demand for capital, securities markets traded almost entirely in government debt).
So we've got historically low business investment in all the developed countries, so that's reducing demand for capital".
