They should have run to undervalued metals rather than to overvalued bonds. https://www.cnbc.com/2019/08/12/investors-are-rushing-into-bonds-like-theyre-the-new-beyond-meat.html
Hearing an argument to buy bonds not for yield, but for liquidity. Almost as good as the argument in Eurpean banks that you should pay for the bank to hold your money to put a positive spin on negative rates. No wonder metals are perking up.
Major metals are liquid.