For you bond bulls the preceding chart is a warning. Not all is well in the world of sovereign finance. While I do not expect any immediate problems for the US, Europe is a different matter. Their rapid yield increases may surprise us.
Bill, I have studied the document you provided carefully as I found the number unbelievable. Unfortunately you are totally correct, and the amount of debt rolling over is just frightening.
Anyone care to guess the total amount of debt the Treasury Department issued and rolled (and rolled) in FY2010?
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$129 TRILLION
http://www.treasurydirect.gov/govt/reports/pd/pd_debtposactrpt_1011.pdf
Bill, I have studied the document you provided carefully as I found the number unbelievable.
ReplyDeleteUnfortunately you are totally correct, and the amount of debt rolling over is just frightening.