America’s Fiscal Follies are Dangerously in the Red
byThe Congressional Budget Office has recently issued a federal “Budget Outlook Update” for the next ten years in the context of the government’s fiscal condition in…
Sovereign Debt
Next Generation EU” spending plan: Towards strengthening or weakening the EU in the long run
byOlympios Raptis // 1 July 2020 While the media, right and left-wing parties and the average newspaper reader celebrate in anticipation of “helicopter money”…
The Fear Factor of Europe’s Public Debt
byby Elisabeth Krecké Global debt has surged spectacularly in recent years and now stands at an all-time high of more than 322 percent of…
Sustainable government debt – an old idea refreshed
byNew research from the Peterson Institute suggests bond yields may fall once more Demographic forces and unfunded state liabilities point to an inevitable…
A world of debt – where are the risks?
byPrivate debt has been the main source of rising debt to GDP ratios since 2008 Advanced economies have led the trend Emerging market…
Benn Steil: Did Russia Really Dump Its U.S. Debt?
byRussia dumped 84% of its American debt,” blared a July CNN headline. Russian central-bank head Elvira Nabiullina said the sales were just part of “diversifying the entire structure…
The Benefits of Issuing Gold Bonds
byA gold bond is debt obligation that is denominated in gold, with interest and principal paid in gold. As I will explain below, it’s…
Italy and the repricing of European government debt
byThe yield spread between 10yr BTPs and Bunds widened 114bp in May Populist and anti-EU politics were the catalyst for this repricing of…
The National Debt Limit Equals a Balanced Budget
byOnce again the United States government is rapidly approaching a fiscal debt ceiling: After March 16, 2017, Uncle Sam will not be legally allowed…
Benn Steil: China’s Bond Market Can’t Handle a Global RMB
byThe Chinese RMB’s ascension into the IMF’s SDR currency basket in October has been widely seen as an important first step on its path to becoming…