ds leading to less demand from abroad for US 1G $ billion 30 - 20 - 10 - 0 -10 - -20 - -30 10 11 12 13 14 15 16 17 Source: TreaSUIv, Haver Analytos, DB Global Research 1 Net foreign purchases of US corporate bonds I thltrIfiLilliiiiilpS. z When ECB put interest rates negative in 2014 the res