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Vigilance on the trajectory of US federal debt
Despite the lull of the last few days, interest rates remain well above what was included in the CBO's recent budgetary projections. The gap with the nominal growth rate is approaching zero. In this situation, the federal debt risks exploding if the country continues to run large deficits year after year. In 2023, the federal deficit has widened to over 6% of GDP (almost 4% excluding interest charges). Tax receipts have fallen, which is surprising in an economy with full employme...
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Oddo BHF
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
Bruno Cavalier
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