U.S. BUDGET DEFICIT NEARS $2 TRILLION, HIGHEST SINCE 2021

The U.S. federal deficit surged 12% to nearly $2 trillion in fiscal 2026, according to the Congressional Budget Office.

Government spending reached $7.4 trillion, while revenue totaled just $5.4 trillion.

The deficit is expected to exceed 6% of GDP, with publicly held debt surpassing 100% of GDP.

Rising Treasury yields threaten to push borrowing costs even higher, adding pressure to an already strained fiscal outlook.
(@WalterBloomberg)