This is not government debt, this is simply Central Bank balance sheet per capita (for every person in that country), and the numbers are staggering …
Broad Money M3
Broad money (M3) includes currency, deposits with an agreed maturity of up to two years, deposits redeemable at notice of up to three months and repurchase agreements, money market fund shares/units and debt securities up to two years.
Here are the base interest rates for countries in the European Union plus additionally those in the European Economic Area and Switzerland (as of June 5, 2018),
The Euro Area unemployment rate was 8.5% in April 2018, down from 8.6% in March 2018 and from 9.2% in April 2017. This is the lowest since December 2008 but still more than double of the US unemployment rate of 3.9% reported in April (the US unemployment rate further fell to 3.8% in May). The EU28 unemployment rate was 7.1% in April 2018, stable compared with March 2018 and down from 7.8% in April 2017. This remains the lowest rate recorded in the EU28 since September 2008.
The divergence of interest rates, bond yields, inflation, currency strength, budget deficit and total debt of countries around the world has never been bigger. We look at how the US, the UK, the Eurozone, Japan, Switzerland and India are doing in addressing paying off their debt. Continue reading “High (or hyper) inflation or long term zero (or negative) interest rates – how might the world pay its debt?”
Greece (Moody’s Credit Rating: Caa2) is now paying 83 bps lower interest on 2-year bonds than the US (Moody’s Credit Rating: Aaa). Is the US now truly the exception? Continue reading “US 10-year bond yield hits a 4-year high, is the US now an exception?”
At the outset, here are the countries whose Central Banks have zero or negative interest rates, Continue reading “How do Central Banks with zero or negative interest rates spend their money?”
What a difference a year makes, these are the current 10 year government bond yields, Continue reading “Impact of interest rates in the US and the UK heading higher”