Investors are warning governments around the world over “unmoored” levels of public debt, saying excessive pre-election borrowing promises risk sparking a bond market backlash.
Government debt issuance in the US and the UK is expected to soar to the highest level on record in the coming year, with the exception of the early stages of the Covid pandemic.
Emerging markets are set to add to the deluge of bond sales, after government debt climbed to an all-time high of 68.2 per cent of GDP last year, according to the Institute of International Finance.
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