Monday, April 5, 2010
Ok where now? borrow more money?
A surge in public borrowing in Britain and the United States has distorted historic market relationships and may have put to rest the long-held notion of risk-free U.S. and U.K. government debt. For the first time on record, investors are demanding higher premiums on U.S. and U.K. government bonds than on debt issued between top-rated banks in the two countries.