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Navigating A "Structural Shift" In Markets | Joseph Wang & Martin Pelletier
Forward Guidance
Are Bankers Going to Put Pressure on Biden or Trudeau to Service Debt?
The level of consumer debt in Canada is quite high, and that's defended by the high asset prices in real estate. The deficit spending was among the highest in the G7 as a percentage of GDP during the COVID shutdown. And when you hike interest rates even a little bit, the interest expense goes up a lot. So there's never a problem with people not wanting to buy the debt; the constraint is inflation.
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