Global sovereign debt will climb past US$100 trillion in the year ahead, according to a forecast from Fitch Ratings. That would represent a rise of about US$7 trillion relative to year-end 2025. Much of the increase will be the result of government spending in the U.S. and China.

“A fairly high and rising debt burden in the sovereign world really means that the fiscal space is shrinking,” said Shelly Shetty, managing director, head of Americas and Asia sovereign ratings at Fitch Ratings in New York City via a webcast on Wednesday. “It gives less capacity to respond to shocks, and obviously increases risk for adverse bond reaction to fiscal slippage or political shocks.”

The global median fiscal deficit is forecast to be about 3% of GDP this year — unchanged from what Fitch expects for 2025. The U.S. and China are forecast to run fiscal deficits of more than 7% of GDP this year.

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That cyberbreach we reported on at the Canadian Investment Regulatory Organization in August affected about 750,000 investors. “We deeply regret this occurred,” said the regulator. Michelle Schriver has the story.

A day before the Canadian Investment Regulatory Organization revealed that 750,000 investors were impacted by its data breach, Michelle Schriver reported that a former dealing representative has asked the Superior Court of Quebec to authorize a class action against the regulator.