G20 finance ministers and central bank governors kicked off their summit with opening remarks emphasizing growth-first policies, signaling coordination among major economies amid global uncertainty.
The US national debt officially surpassed the $40 trillion milestone on August 20, equivalent to adding roughly $90,000 per second. Reuters notes this figure has more than doubled in a decade, spanning both Trump and Biden administrations. Analysts warn that surging debt will intensify interest payment pressures, potentially forcing the Federal Reserve into difficult choices between inflation control and fiscal sustainability.
The US House of Representatives passes a critical spending bill to keep the federal government running ahead of midterm elections, temporarily averting a shutdown crisis while budget negotiations continue.
US Treasury market faces significant selling pressure, pushing yields higher and testing Washington’s tolerance for elevated borrowing costs.
UK thirty-year government bond yields rose to five point seven six percent, the highest since 1998. Rising fuel prices and political stability concerns are pushing up borrowing costs, squeezing Chancellor Rachel Reeves fiscal headroom.