OECD经合组织：2026年全球债务报告（英文版）

Global debt markets proved resilient in 2025, despite borrowing levels reaching historic highs. Volatility has remained limited and corporate credit spreads neared record lows. However, shifts in the investor base are transforming these markets. More price-sensitive investors are providing much needed liquidity but may be increasing market sensitivity to shocks. Governments and companies have been shifting their issuance towards shorter maturities to mitigate the impact of rising long-term in