1/4 of US debt rolls over this year; Federal government interest expense to GDP 3.857%; Bond market revolts against easing
A reminder that about 1/4 of US debt matures in the next 12 months. The last two times we saw similar refinancing pressure, policy rates were at 0%. Today rates are 3.75% with the market pricing fewer than 2 cuts by year-end. Hard to see this aligning with Trump and the new… pic.twitter.com/ojImx9SOvH — Otavio … Read more