JPMorgan: Ageing population and deficits two drivers of higher interest rates
In 2025, the IMF reported that, across the globe, companies, households, and countries had amassed $251 trillion in debt. Looking toward the end of 2026, J.P. Morgan has warned that interest rates on such borrowings are set to spike, owing largely to dwindling populations and diminishing fiscal discipline. In a note yesterday, JPMorgan’s Joyce Chang and…