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For years, governments behaved as if debt were tomorrow’s problem, but this year’s inflationary energy shock seems to have sped up tomorrow’s arrival. The bond vigilantes may not yet be kicking down the door. But they have found the address. The danger is less a sudden replay of the euro crisis than a slow squeeze in which interest payments crowd out investment, defence, and social spending.
Marketing communication / Non-Independent Research. This publication is issued by Coöperatieve Rabobank U.A., registered in Amsterdam, and/or any one or more of its affiliates and related bodies corporate (jointly and individually: “Rabobank”). Coöperatieve Rabobank U.A. is authorised and regulated by De Nederlandsche Bank and the Netherlands Authority for the Financial Markets. Read more
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