Can the lack of savings in the United States and the United Kingdom and the excess savings in the euro zone be seen in the level of real long-term interest rates?

Current account balances show that there is a shortage of savings in the United States and the United Kingdom, and an excess of savings in the euro zone. Do these different positions in the savings-investment equilibrium explain the changes in real long-term interest rates country by country (for example, an increase in excess savings leading to a fall in real long-term interest rates) or the relative levels of real interest rates in the different countries? We see that: I n the United States and the euro zone, but not in the United Kingdom , t he real 10-year interest rate was negatively correlated with the current account balance from 2002 to 2023; The country with a current account deficit (United States) has a higher real interest rate on average than the country with a current account surplus (euro zone).