According to Reid, “notwithstanding the short-term low supply expectations in Europe, a real head-scratcher going forward is how the market will cope over the years and even decades to come with the central case scenario of higher and higher government debt around the world. Figure 13 looks at the US, Germany and Japan government debt/GDP with forecasts from the US CBO and BIS.”
https://www.zerohedge.com/news/2018-02-26/deutsche-bank-does-not-make-sense
