In August, for the first time, the US public debt exceeded $40 trillion. For fiscal year 2026, the federal deficit is estimated at around 5.8% of gross domestic product (GDP): about 2.6% is attributable to the negative primary balance, while 3.3% is represented by net interest, now over one trillion dollars per year, and [...]
SEPTEMBER COMMENT 2026 - WHEN THE MARKET SPEAKS