Sovereign debt would be sharply sold off next year, leading to a wider downturn in financial markets, if central banks failed to implement perfect exit strategies, Moody's warned yesterday.
The ratings agency warned that economic growth would be choked off if exit strategies were introduced too soon, while financial markets would be unsettled if they were kept in place for too long.
Bankers say emergency support measures such as quantitative easing have depressed yields on benchmark government bonds by about 40 to 50 basis points.
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