Global bond yields are back to the level of 2008.šØ
Only now thereās a lot more debt sitting on top of which that interest has to be paid.
The global index of sovereign bonds hit the highest yield since 2008, rising from below 0.5% in 2020 to around 3.7% now.
The level is the same as 18 years ago, but the stock of debt and the size of the deficits are not even close.
This isnāt āinflation expectations.ā Just look at breakevens.
Anyone who says āitās all fineā with public government debt really doesnāt understand math. The fiscal burden today is highly relevant.
This is a broad confidence crisis, in the planetās largest economies.
Owning scarce assets isnāt a matter of ādiversificationā here.
Itās a matter of survival. Are you paying attention?
Only now thereās a lot more debt sitting on top of which that interest has to be paid.
The global index of sovereign bonds hit the highest yield since 2008, rising from below 0.5% in 2020 to around 3.7% now.
The level is the same as 18 years ago, but the stock of debt and the size of the deficits are not even close.
This isnāt āinflation expectations.ā Just look at breakevens.
Anyone who says āitās all fineā with public government debt really doesnāt understand math. The fiscal burden today is highly relevant.
This is a broad confidence crisis, in the planetās largest economies.
Owning scarce assets isnāt a matter of ādiversificationā here.
Itās a matter of survival. Are you paying attention?
