Curse of Easy Money: US Government Interest Payments v. Tax Receipts, Average Interest on Treasury Debt, & Debt to GDP by Wolf Richter • Aug 30, 2023 • 119 Comments Spiking Interest payments will hopefully, knock on wood, force the drunken sailors in Washington to go through detox.
Ten-Year Treasury Yield Hits 15-Year High, Market Wades out of Denial, Sees “Higher-for-Longer,” Tsunami of Issuance, QT by Wolf Richter • Aug 16, 2023 • 205 Comments “Higher for longer be damned”: consumers and businesses.
Here Comes the Tsunami of Longer-Term Treasury Notes & Bonds: Monthly Auction Sizes +60% by August Next Year by Wolf Richter • Aug 2, 2023 • 180 Comments Good Lordy.
Fitch Downgrades US Credit Rating on Fiscal Deterioration, Government Debt Burden, and Debt Ceiling Standoffs by Wolf Richter • Aug 1, 2023 • 155 Comments Second major US ratings agency to downgrade the US to ‘AA+’. The first ratings agency got whacked by the US government.
US Government Debt Spikes by $1.2 trillion since Debt Ceiling, to $32.7 Trillion. Treasury to Add $1.5 Trillion in Debt by Year-End by Wolf Richter • Jul 31, 2023 • 169 Comments Stunning numbers out today. Investors will buy the securities, plus those the Fed steps away from. But… Crystal ball sees rising longer-term yields.
Time to Look at Foreign Demand for the Incredibly Ballooning US National Debt by Wolf Richter • Jul 19, 2023 • 92 Comments As China unloaded Treasury securities and Japan propped up the yen, other countries loaded up.
Treasury Market Comes Out of Denial, Grapples with “Higher-for-Longer,” QT, Flood of New Issuance. Long-Term Yields Jump by Wolf Richter • Jul 8, 2023 • 212 Comments Denial works great until it doesn’t.
US National Debt Spiked by $851 billion in One Month, to $32.3 Trillion. Flood of New Debt Coming in Q3 to Refill the TGA, Pay for Raging Deficits by Wolf Richter • Jul 2, 2023 • 152 Comments While, for the first time, the Fed’s QT and refilling the government’s checking account (TGA) pull liquidity from the markets simultaneously.
Longer-Term Treasury Yields to Rise amid Flood of Issuance while Fed, Foreign Buyers, US Banks Unload. Short-Term Yields already Surged by Wolf Richter • Jun 26, 2023 • 179 Comments What the Fed wanted to accomplish. But the bond market hasn’t been playing along and “is too complacent” about the coming onslaught.
US National Debt Hits $32 Trillion, up $572 billion since Debt Ceiling Suspended. TGA Starts Refilling, Drains Liquidity from Markets by Wolf Richter • Jun 17, 2023 • 269 Comments Debt doesn’t matter. Until it does. And now it does.
