US national debt hit a record $40tn (£29.3tn) as Donald Trump launched a major intervention in the bond market to calm investors after a global sell-off.
America's gross federal debt surpassed the milestone earlier this week, data from the US treasury showed on Wednesday, coinciding with a bond market crash that pushed government borrowing costs to multi-decade highs.
The US national debt has risen by $3tn in the past 12 months, raising fears about higher spending under Mr Trump.
It came as the US treasury said it would pump billions of dollars into the bond market after fears about inflation and surging government debt propelled borrowing costs to their highest level since the financial crisis.
In a move to calm increasingly volatile bond markets, the treasury said on Wednesday that it would double the amount available to buy long-dated US treasuries to $4bn (£3bn).
#government
America's gross federal debt surpassed the milestone earlier this week, data from the US treasury showed on Wednesday, coinciding with a bond market crash that pushed government borrowing costs to multi-decade highs.
The US national debt has risen by $3tn in the past 12 months, raising fears about higher spending under Mr Trump.
It came as the US treasury said it would pump billions of dollars into the bond market after fears about inflation and surging government debt propelled borrowing costs to their highest level since the financial crisis.
In a move to calm increasingly volatile bond markets, the treasury said on Wednesday that it would double the amount available to buy long-dated US treasuries to $4bn (£3bn).
#government
2 months ago
