Negative rates are an experiment in each application.
They encourage fear and conservative behavior, not to mention poverty. To buy such bonds takes a set of beliefs that drives most investors out of investments in things productive of a future. These are destructive bonds and we should demand better of the Federal Reserve. Mr. Bernanke does not believe in free markets or he would let them clear, however ugly for a brief period.
I fear that they will be tolerated by we lemmings.