Congressional Budget Office Forecast of 10-Year U.S. Treasury Yield The Congressional Budget Office sees the 10-year U.S. Treasury yield edging higher over the next few years as swelling federal debt puts upward pressure on borrowing costs. Deficits have a price. Image: Deutsche Bank
U.S. Budget Deficit as a % of GDP The U.S. administration’s strong interest in rate cuts is largely driven by the need to make financing the enormous deficit more sustainable. By lowering rates, the government can reduce borrowing costs and ease the budgetary pressure. Image: Bloomberg
2025 Projected U.S. Federal Spending While the idea of cutting $2 trillion from U.S. federal spending is appealing in theory, the practical challenges and political realities make it a daunting task. Image: Morgan Stanley Wealth Management
U.S. Budget Deficit While higher deficits can provide short-term economic stimulus and potentially extend business cycles, they also pose risks to long-term economic stability. Image: Deutsche Bank
U.S. Nominal GDP Less Government Budget Deficit While fiscal spending in the United States has the potential to boost GDP growth, it is important to carefully consider the long-term implications and trade-offs associated with such policies. Image: Morgan Stanley Wealth Management
U.S. 10-Year TIPS Yield and Federal Budget Balance A larger U.S. budget deficit tends to lead to a lower TIPS yield. Image: Alpine Macro
U.S. Unemployment Rate and U.S. Federal Government Budget Deficit This chart shows the unprecedented divergence between the U.S. unemployment rate and the U.S. federal government budget deficit. Image: Alpine Macro
U.S. Federal Budget Deficit by Month U.S. federal budget deficit surges to $134.5 billion in October. Image: Oxford Economics
U.S. Budget Deficit Government spending increases despite President Trump’s promise to eliminate debt. Image: Financial Times
U.S. Long-Term Budget Outlook Large budget deficits over the next 30 years could boost federal debt to unprecedented levels. Image: Congressional Budget Office
Federal Budget Deficit Since 1948 The federal budget deficit is unusually large compared to the state of the U.S. economy. Image: Goldman Sachs