BIS warns of mounting disconnect between debt and stock markets
LONDON (Reuters) -The Bank for International Settlements has warned that record global share prices appear increasingly disconnected from the rising concerns about government debt levels in the bond markets.
The BIS, which acts as an umbrella group for the world’s central banks, said the rise in the premium investors demand to buy the 30-year debt of top economies this year showed “mounting concerns about the fiscal outlook”.
Earlier this year Moody’s became the last of the main credit rating agencies to strip the United States of triple A status, while France on Friday had its rating cut to its lowest ever level by Fitch over concerns about government finances.
US temporary help services jobs fell -9,800 in August, to 2.5 million, the lowest since September 2020. Excluding the 2020 pandemic, this is the lowest level in 13 years.
7 in 10 Americans think their income will not keep up with rising prices over the next 1–2 years, the highest share in at least 30 years
