The robust demand for safe assets

Pan-national borrowers such as the European Investment Bank, World Bank and Inter-American Development Bank have raised $219bn on global debt markets so far this year, the largest sum raised year to date since records began, according to data from Dealogic.

From Elaine Moore at the FT, there is more here.   The world as a whole of course is richer than ever before, most of all in the emerging economies, so I do not take this borrowing to be an encouraging sign.


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