By Yoruk Bahceli, Ben Welsh, Dhara Ranasinghe and Rocky Swift
LONDON/NEW YORK/TOKYO, August 20 (Reuters) - U.S. debt has topped $40 trillion for the first time, underscoring the pressures on the world's major economies to fund ever-increasing spending demands -- from ageing populations to climate change and defence.
This year, the Iran war has rekindled inflation risks, while damage wrought by Europe's increasingly volatile weather is a further strain on public finances.
No wonder perhaps that U.S. 30-year Treasury yields have risen to their highest since 2007, prompting government action to contain rising borrowing costs. ******* anese borrowing costs are also near their highest in three decades and even Germany -- whose debt load is considerably lighter -- has seen its yields jump to the highest levels since 2011.
A high debt burden that brings higher borrowing costs risks hurting living standards by constraining spending and capping growth. Sovereign debt sets the benchmark for borrowing costs for companies and other loans, including household mortgages.
#spending #since
LONDON/NEW YORK/TOKYO, August 20 (Reuters) - U.S. debt has topped $40 trillion for the first time, underscoring the pressures on the world's major economies to fund ever-increasing spending demands -- from ageing populations to climate change and defence.
This year, the Iran war has rekindled inflation risks, while damage wrought by Europe's increasingly volatile weather is a further strain on public finances.
No wonder perhaps that U.S. 30-year Treasury yields have risen to their highest since 2007, prompting government action to contain rising borrowing costs. ******* anese borrowing costs are also near their highest in three decades and even Germany -- whose debt load is considerably lighter -- has seen its yields jump to the highest levels since 2011.
A high debt burden that brings higher borrowing costs risks hurting living standards by constraining spending and capping growth. Sovereign debt sets the benchmark for borrowing costs for companies and other loans, including household mortgages.
#spending #since
2 days ago
