Bond investors want growth much like equity investors, and to the extent that too much austerity leads to recession or stagnation then credit spreads widen out - even if a country can print its own currency and write its own cheques.

Bill Gross

Bill Gross

Austerity Bond Country Credit Currency Equity Even Extent Growth Investors Leads Like Much Out Own Print Recession Spreads Stagnation Then Too Too Much Want Write

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