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France’s market watchdog is bracing for a surge in global bond yields and a Wall Street crash

as soon as this year, fearing that contagion will spread to Europe and snuff out the fragile recovery.

“The world has never been so indebted – even more than before the 2007 crisis – and this debt has never been so risky,” said the Autorité des Marchés Financiers (AMF) in its annual report.

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