Global debt markets face increasing pressures from sustained fiscal deficits, rising interest costs and investment needs, a structural decline in long-term demand, and growing refinancing risks as the maturity of issuance shortens. Yet they remained resilient in 2025 as liquidity conditions improved, volatility moderated and new debt supply was absorbed smoothly. The risks continue to build, however, not only from ever higher borrowing requirements and elevated yields, but also from a changing investor base. This may render debt markets more exposed to periods of stress.
The third edition of the Global Debt Report analyses the latest trends in global sovereign and corporate debt markets up to the end of 2025. It also looks at the shifts in the investor base for government and corporate bonds since 2007, with a focus on the post-2022 period, exploring the drivers behind these shifts and the implications.
The opening remarks and presentation of the report will be followed by a Q&A session with media.
