So the listening has continued, and the agenda has evolved to include pressing issues in the wake of the COVID-19 pandemic, such as today’s conversation on education and work opportunities for young people.
Comparing for instance Britain and Spain based on debts, deficits and inflation, Britain should be the riskier credit. But British bonds yield around 2.3% while Spain’s yield around 5.5%. Moreover, market sentiments can deteriorate dramatically within days – although economic fundamentals might not have changed. In mid October Italian one year bonds yielded around 3.5%. Last week they yielded around 7%.