The U.S. national debt stood at approximately $39.9 trillion in mid-August and is expected to cross the $40 trillion threshold this week, with forecasts reaching $50 trillion by 2029 according to Bank of America. Treasury yields have risen to elevated levels, with the 10-year at 4.6% and the 30-year hitting 5.2%, reflecting investor concerns over fiscal and inflation risks. The U.S. government borrowed $1.8 trillion during the first 10 months of fiscal year 2026, pushing the annual interest bill to approximately $1.4 trillion. Bank of America’s chief investment strategist Michael Hartnett is recommending his « Anything but Bonds » strategy, suggesting investors should shift toward gold, equities, and real estate rather than long-duration government bonds.
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