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Bloomberg, Institute of International Finance; Chart: Andrew Witherspoon/Axios

The amount of bonds with negative yields has grown to more than $13 trillion, data from the Institute of International Finance shows, and unlike in 2016 the amount of debt below zero looks poised to grow.

What's happening: Since European Central Bank President Mario Draghi's latest news conference signaling the central bank is poised to further ease its already negative interest rate policy, bond yields have been dropping below zero across Europe.

Investors are trying to find other places to stash their cash. Interest in so-called alternative assets is pushing banks to launch brand new hundred-billion-dollar divisions, and institutional holdings of money market funds have surged in recent weeks to a record high of $1.68 trillion, IIF notes.

  • But money is still piling into the bonds that charge instead of pay bondholders interest.

The intrigue: Negative yields are primarily on government bonds from Japan and various European countries, but the stock of corporate bonds and securitized instruments with negative yields also has increased, topping $500 billion and $1 trillion, respectively, according to IIF's data.

Go deeper: Municipal bonds are 2019's hottest asset

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Drive-in movie theaters are making a comeback

Illustration: Annelise Capossela/Axios

Drive-in movie theaters, the symbol of a bygone era before cellphones and constant distraction, are suddenly reemerging as a popular form of entertainment during the coronavirus crisis.

Why it matters: Indoor movie theaters are closed, but people still crave entertainment and a chance to get out of their houses. Watching a movie from the safety of a car is the next best thing.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 7:30 a.m. ET: 11,093,182 — Total deaths: 525,491 — Total recoveries — 5,890,052Map.
  2. U.S.: Total confirmed cases as of 7:30 a.m. ET: 2,795,163 — Total deaths: 129,437 — Total recoveries: 790,404 — Total tested: 34,213,497Map.
  3. States: ICU beds in Arizona's hot spot reach near capacity.
  4. Public health: The states where face coverings are mandatory Fauci says it has been a "very disturbing week" for the spread of the coronavirus in the U.S.
  5. Economy: The economy may recover just quickly enough to kill political interest in more stimulus.

Kimberly Guilfoyle tests positive for coronavirus

Photo: Mandel Ngan/AFP/Getty Images

Kimberly Guilfoyle, Donald Trump Jr.'s partner and a top fundraising official for the Trump campaign, tested positive for the coronavirus on Friday, The New York Times reports.

Why it matters: Guilfoyle is the third person in President Trump’s circle known to have contracted the coronavirus. Vice President Mike Pence's press secretary tested positive, as did a personal valet who served Trump food.