When governments spend beyond their means, they sell bonds to finance their debt. It allows countries to kick the can of balanced budgets down the road, until they hit a dead end. Now a major sell-off on global bond markets is pushing borrowing costs higher and forcing some hard choices. Is bond market warning governments that the era of cheap money is coming to an end? What will be the impact on the global economy?
DW speaks to Carsten Brzeski, Global Head at Macro Research and Chief Economist at ING Germany, on US economic interventions
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