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.
Powell Caught in One Heck of a Squeeze: D, All of the Above is Also Possible by Craig Francis • Jun 12, 2023 • 181 Comments Debt has a nasty habit of ruling the financial world of any entity, whether it’s a household, business or nation.
US National Debt Spikes by $359 billion on 1st Day after Debt Ceiling Suspended. TGA Begins to Get Refilled, Draining Liquidity from Market by Wolf Richter • Jun 6, 2023 • 118 Comments The Fed’s QT is happening for the first time simultaneously with the refilling of the TGA. Both draw liquidity from markets.
Update on US Government Holy-Moly Debt, Interest Expense, and Tax Receipts, and How they Stack Up Against GDP by Wolf Richter • May 29, 2023 • 186 Comments We shoulda known better.
