James E. Thorne says Japan challenges the idea that higher public debt always drives bond yields up. Japan’s debt rose from about 70% of GDP in 1990 to above 200% by the mid 2020s, while policy rates stayed low.
published
James E. Thorne says Japan challenges the idea that higher public debt always drives bond yields up. Japan’s debt rose from about 70% of GDP in 1990 to above 200% by the mid 2020s, while policy rates stayed low.
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