This Week in Review | US Debt, Global Bond Yields, US-Canada Trade (Aug. 21, 2026)

The economy and markets can feel dizzying and ever changing. That’s where we can help. Fisher Investments’ “This Week in Review” is a weekly segment designed to highlight a few things you may have missed this week, what they could mean for financial markets and why they matter to investors like you. This week, Fisher Investments reviews: • US debt reaching $40 trillion • Rising global bond yields • US-Canada trade negotiations Below are the sources for all data cited in today’s show: 1. Source: U.S. Department of the Treasury, as of 8/20/2026. Debt to the Penny, 8/19/2026. 2. Source: Treasury Direct, as of 8/21/2026. Recent Auction Results. 3. Source: Office of Management and Budget, as of 8/21/2026. Fiscal Year Federal Interest Outlays as a Percent of Annual Federal Tax Receipts from 1940 - 2025. 4. Source: Federal Reserve Bank of St. Louis, as of 8/20/2026. Market Yield on U.S. Treasury Securities at 30-Year Constant Maturity, Quoted on an Investment Basis (DGS30), 8/19/2026. 5. Source: Macrobond, as of 8/21/2026. Japan, Germany, France and UK 10-year government bond yields, monthly, January 2026 - July 2026. 6. Source: Macrobond, FactSet, as of 7/24/2026. ICE BofA US Corporate spreads, daily, 1/1/2000 - 7/23/2026. 7. Source: AP, as of 8/20/2026. “US, Canada Hold Last-Minute Talks to Stop 50% US Tariffs,” 8/18/2026. 8. Source: Wall Street Journal, as of 8/19/2026. “U.S. Eyes Lower Tariffs on Metals and Autos in Canada Trade Deal,” 8/19/2026. Want to dig deeper? • Find out more about bond yields and how they fit in your portfolio: https://www.fisherinvestments.com/en-us/insights/market-commentary/the-bond-backdrop-now Have feedback for this Fisher Investments video? Share your thoughts on this episode in just 1 minute by filling out this survey: https://fi.co1.qualtrics.com/jfe/form/SV_6Vw1ezlogR044S2?VideoCode=WeekInReview14Aug2026 Connect with Fisher Investments on: • Facebook - https://www.facebook.com/FisherInvestments • X - https://twitter.com/fisherinvest • LinkedIn - https://www.linkedin.com/company/fisher-investments • Instagram - https://www.instagram.com/fisher.investments/ • TikTok - https://www.tiktok.com/@fisher_investments You can also follow Ken Fisher here: • Facebook - https://www.facebook.com/KenFisher.FisherInvestments • X - https://twitter.com/KennethLFisher • LinkedIn - https://www.linkedin.com/in/ken-fisher/ • Instagram - https://www.instagram.com/kenfisher_fisherinvestments/ Investing in securities involves a risk of loss. Past performance is never a guarantee of future returns. Investing in foreign stock markets involves additional risks, such as the risk of currency fluctuations. The foregoing constitutes the general views of Fisher Investments and should not be regarded as personalized investment advice. Nothing herein is intended to be a recommendation. The opinions expressed are subject to change without notice.