James Carville, a political adviser to Bill Clinton, famously ranked the bond market above being president, the pope, or a baseball player on his list of things he would want to be reborn as. “You can intimidate everybody” he argued in 1993. Fixed income investors continue to be demanding stakeholders over three decades on. But although spendthrift governments are wary, they are not taking recent warnings from their creditors seriously enough.
比尔•克林顿(Bill Clinton)的政治顾问詹姆斯•卡维尔(James Carville)发表过一番著名的见解：他最希望在下辈子成为债券市场，超过总统、教皇或棒球运动员。“你可以吓倒所有人，”他在1993年这样说道。30多年后的今天，固定收益投资者仍是要求苛刻的利益相关者。然而，尽管支出过度的政府保持着警惕，但他们没有足够重视债权人近期发出的警告。
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