Credit growth in advanced economies is likely to maintain a healthy pace despite quantitative tightening. Meanwhile, the recent spike in Italian government bond yields may increase firms’ borrowing...

Preliminary Markit PMIs provide tentative evidence that the euro-zone economy will lag behind advanced-economy peers in Q4, as growth holds up better in the US and Japan.

The Italian Government’s reply to the European Commission suggests that there is unlikely to be a quick resolution to the current fiscal impasse. We expect yields to rise in the coming years.

The apparent success of the US’s recent fiscal stimulus, at least in the short term, begs the question of whether other countries should, or will, follow suit. However, we think that most would...