09/03/2026
'The world appears to be entering a higher-rate era' (CNBC
“The most vulnerable sovereigns are those combining large fiscal deficits, elevated debt burdens and reliance on external capital.' (Masahiko Loo, State Street Investment Management)
We've been warning our Substack readers about this for a long time.
One of our favorite catchphrases when discussing rising interest rates and a crisis of confidence among U.S. creditors is 'debt, deficits, and dysfunction in government'. Here's a perfect example...
'Congress, Clown Cars, and Mortgage Rates...Why Debt, Deficits, and Dysfunction Really Matter! (Video)'
https://hallmarkabsservice.substack.com/p/congress-clown-cars-and-mortgage?r=nlt9&utm_campaign=post-expanded-share&utm_medium=web
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