For the moment, nobody much cares about debts that can never be repaid and I suppose there is an expectation of yet more QE prevailing over QT. A short term Santa and tariff truce rally has arrived !
Enjoy it while it lasts. I still believe that our post-Santa focus should be on bond and debt markets as lenders seek to cover global risk perceptions and rollovers become more and more problematic.
cheers
