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French and German savers have many things in common: Their level of financial assets per capita is similar and its development over the last decade has been almost identical.
Global public debt will hit an all-time high in 2020 and this won’t be without consequences for debt sustainability, particularly for the most fragile economies.
Traded companies have seen remarkable investment inflows even as prolonged Covid-19 lockdowns threaten corporate earnings and debt sustainability. These inflows have led to a substantial re-compression of corporate spreads, leaving most sectors trading close to January 2020 levels.