The National Debt Podcast with Fexingo: Treasury, Borrowing, and Long-Term Fiscal Outlook

In episode 61 of The National Debt Podcast, Lucas and Luna dig into the implications of Kevin Warsh's first Federal Reserve meeting as chair. With the 10-year yield at 4.49% and the yield curve still inverted at 27 basis points, they explore how Warsh's hawkish opening statement and the Fed's new SEP signal a higher-for-longer rate path that directly impacts federal borrowing costs. They also examine the 30-year yield holding near 4.93%, and what that means for the Treasury's refinancing calendar. Plus, a look at how the Fed's independence could be tested under a president who claims his power has 'no limits.' Specific numbers, concrete policy moves, and no fluff. #KevinWarsh #FederalReserve #NationalDebt #TreasuryYields #YieldCurve #FedChair #MonetaryPolicy #Economy #FiscalPolicy #DebtToGDP #BorrowingCosts #CentralBanking #InterestRates #Economics #FexingoBusiness #BusinessPodcast #USDebt #PodcastEpisode Keep every episode free: buymeacoffee.com/fexingo

Lucas and Luna unpack the fiscal landscape Kevin Warsh inherits as the new Fed chair, focusing on a specific tension that previous episodes haven't covered: the way a shrinking deficit — the deficit actually shrank to $1.77 trillion in fiscal 2025 — combines with rising debt service costs to create a policy paradox. They anchor on the 10-year yield's recent drop to 4.43 percent, the 2-year sitting at 4.05, and the 30-year at 4.93, and ask: Is Warsh's first challenge really inflation, or is it the market's growing doubt about the Treasury's ability to roll over $38.5 trillion in debt without a crisis? They walk through the arithmetic of interest payments now consuming roughly 13 percent of federal revenue, the flattening yield curve, and why a smaller deficit doesn't mean we're out of the woods. No hot takes — just the numbers and what they imply for borrowing costs, fiscal space, and the next recession. #KevinWarsh #FederalReserve #NationalDebt #TreasuryYields #FiscalPolicy #Deficit #DebtService #YieldCurve #Economics #FedChair #BondMarket #InterestRates #FiscalOutlook #PublicDebt #MonetaryPolicy #FexingoBusiness #BusinessPodcast #TheNationalDebtPodcast Keep every episode free: buymeacoffee.com/fexingo

This episode examines how Kevin Warsh's first FOMC meeting as Federal Reserve chair affects the US Treasury's borrowing costs and long-term debt trajectory. With the 30-year yield at 4.93% and the debt-to-GDP ratio at 122.6%, Lucas and Luna walk through the specific mechanics of how a hawkish Fed chair influences auction demand, rollover risk, and the fiscal arithmetic. They discuss Warsh's known preference for tighter policy, the flattening yield curve, and what this means for the $38.5 trillion federal debt. No hot takes—just a clear breakdown of the linkages between monetary policy and the national debt. #KevinWarsh #FederalReserve #NationalDebt #TreasuryYields #FiscalPolicy #MonetaryPolicy #DebtToGDP #YieldCurve #FOMC #FederalBorrowing #Economics #Treasury #InterestRates #DebtServiceCosts #FiscalOutlook #FexingoBusiness #BusinessPodcast #FedChair Keep every episode free: buymeacoffee.com/fexingo

In Episode 58 of The National Debt Podcast, Lucas and Luna examine a quiet shift in the buyer base for US Treasuries. Foreign official holdings have dropped by roughly $300 billion over the past two years, even as the federal debt crossed $38.5 trillion and the debt-to-GDP ratio hit 122.6 percent. Lucas walks through who has been selling—Japan, China, and even some European allies—and who is stepping in to fill the gap: domestic banks, pension funds, and the Fed's overnight reverse repo facility. They discuss what happens if the marginal buyer shifts from price-insensitive central banks to yield-hungry private investors, especially with the 30-year yield hovering near 4.93 percent and the interest on reserve balances stuck at 3.65 percent. Luna questions whether higher yields could crowd out private investment, and Lucas points to the flattening 10Y-2Y spread as a warning signal. The episode ends with a look at upcoming Treasury refunding announcements and the risk of 'buyer strikes' at auction. No panicked predictions—just a sober look at who holds the debt and why it matters for rates and growth. #TreasuryAuctions #ForeignHoldings #Japan #China #DebtToGDP #FederalDebt #YieldCurve #BondMarket #FiscalPolicy #Economics #FedReserve #InstitutionalInvestors #SovereignDebt #ReverseRepo #NationalDebt #FexingoBusiness #BusinessPodcast #FiscalOutlook Keep every episode free: buymeacoffee.com/fexingo

The yield curve is flattening again, and this time it has implications for how the Treasury manages its record $38.5 trillion debt portfolio. Lucas and Luna walk through the mechanics of a flattening curve when the Fed is at a pause, and why the 2-year/10-year spread of just 38 basis points forces the government to borrow more at the short end, raising refinancing risk. They drill into the latest debt-to-GDP ratio of 122.6 percent and what happens when interest costs consume an ever-larger share of federal revenue. Featuring a concrete example from recent Treasury auctions and a look at how the Congressional Budget Office's baseline assumptions may be too optimistic. #YieldCurve #NationalDebt #Treasury #FederalReserve #DebtToGDP #FiscalPolicy #BondMarket #Economics #InterestRates #ShortTermBorrowing #RefinancingRisk #CBO #FederalDeficit #DebtService #FexingoBusiness #BusinessPodcast #Podcast #Finance Keep every episode free: buymeacoffee.com/fexingo

Lucas and Luna examine how the 30-year Treasury yield hovering near 5 percent is reshaping the federal government's borrowing strategy and long-term fiscal outlook. They break down the impact on debt service costs, the shifting composition of Treasury issuance, and what higher long-term rates mean for the national debt trajectory. Using current data from June 2026, they explore how the yield curve's persistent steepening is forcing the Treasury to rethink its debt management playbook. #Treasury #NationalDebt #30YearYield #FederalBorrowing #DebtServiceCosts #YieldCurve #FiscalPolicy #Economics #BondMarket #InterestRates #LongTermDebt #DebtManagement #TreasuryIssuance #FiscalOutlook #PublicDebt #GovernmentBonds #MacroEconomics #FexingoBusiness Keep every episode free: buymeacoffee.com/fexingo

In this episode of The National Debt Podcast, Lucas and Luna examine how rising interest payments on the national debt are consuming a growing share of federal spending. With the 30-year Treasury yield near 5 percent and the total federal debt surpassing $38.5 trillion, debt service costs now exceed $1.3 trillion annually—more than Medicare or defense. The hosts discuss how this squeeze limits fiscal flexibility, especially with deficits still running at $1.8 trillion, and explore what it means for future budgets and economic policy. #NationalDebt #TreasuryYields #FederalBudget #DebtService #InterestPayments #FiscalPolicy #Economics #Podcast #FexingoBusiness #BusinessPodcast #LucasAndLuna #BudgetDeficit #ThirtyYearYield #FederalSpending #Macroeconomics #GovernmentDebt #InterestRates #FiscalSqueeze Keep every episode free: buymeacoffee.com/fexingo

Lucas and Luna dig into a surprising fiscal data point: the federal deficit narrowed by about $40 billion in fiscal 2025, even as the national debt crossed $38.5 trillion. They break down what drove the improvement — stronger tax receipts, slower spending growth — and why it may not last. The conversation focuses on the interest expense squeeze: with the 30-year yield near 5 percent and the Fed holding rates above 3.6 percent, debt service costs are consuming more of every tax dollar. Lucas walks through a simple arithmetic: if the average interest rate on the debt rises from 3.2 to 3.5 percent, that's an extra $100 billion in annual interest — roughly the entire budget of the Department of Education. Luna asks whether the Fed's rate stance is the real driver of fiscal pressure, and both hosts weigh the outlook: if Treasury keeps borrowing at short maturities to save pennies today, are we just kicking the can to a painful refinancing wave tomorrow? A grounded, numbers-first take on the federal balance sheet. #FederalDeficit #NationalDebt #TreasuryBorrowing #InterestExpense #FiscalOutlook #DebtService #FedPolicy #InterestRates #ThirtyYearYield #DebtToGDP #TaxReceipts #SpendingGrowth #FiscalResponsibility #Budget #Economics #FexingoBusiness #BusinessPodcast #DebtPodcast Keep every episode free: buymeacoffee.com/fexingo

As of mid-June 2026, the U.S. national debt stands at $38.5 trillion, and the federal government is spending over $1 trillion annually just on interest payments. In this episode, Lucas and Luna dig into how rising Treasury yields are driving up debt service costs, crowding out other federal spending, and creating a fiscal feedback loop. With the 10-year yield at 4.45 percent and the 30-year near 5 percent, the cost of servicing the debt is now growing faster than the economy. They explore what this means for future deficits, the likelihood of tax hikes or spending cuts, and whether the bond market will force Washington's hand. Using fresh market data and recent debt projections, they explain why the interest bill has become a major policy constraint. #NationalDebt #TreasuryYields #FiscalPolicy #DebtService #InterestCosts #FederalBudget #Deficit #BondMarket #TenYearYield #ThirtyYearYield #DebtToGDP #CrowdingOut #FiscalConstraint #Economics #FexingoBusiness #BusinessPodcast #FederalDebt #InterestRates Keep every episode free: buymeacoffee.com/fexingo

Episode 52 of The National Debt Podcast. Lucas and Luna drill into the ECB's first rate hike since 2023, triggered by Iran conflict energy costs, and what it means for US Treasury borrowing costs and fiscal arithmetic. With the 10-year yield at 4.45% and 30-year at 4.97%, they explore how higher European rates attract global capital away from US Treasuries, potentially forcing the US to pay more to borrow. They also discuss the yield curve's persistent inversion and what it signals about long-term fiscal sustainability. Plus, a brief listener-support moment tied to understanding the global bond market. #ECBRateHike #NationalDebt #TreasuryYields #GlobalBondMarket #IranConflict #FiscalPolicy #YieldCurve #FederalDebt #DebtToGDP #CentralBanking #Economics #BondMarket #USDebt #InterestRates #FiscalSustainability #FexingoBusiness #BusinessPodcast #Podcast Keep every episode free: buymeacoffee.com/fexingo

Lucas and Luna break down how the European Central Bank's first rate hike since 2023 is rippling through US Treasury borrowing costs. They connect the ECB's move to the 30-year yield hovering near 5 percent and the federal deficit's widening path. Specific data includes the 30-year yield at 4.95 percent, the 10-year at 4.45 percent, and the debt-to-GDP ratio at 122.6 percent. The hosts argue that higher global rates force the US to pay more to attract foreign buyers, adding $50 billion or more in annual interest expense. They also discuss why the Fed's rate cuts haven't relieved long-term borrowing costs, and what that means for fiscal policy. No clickbait, just clear economics for time-pressed listeners. #ECB #EuropeanCentralBank #RateHike #InterestRates #TreasuryYield #30YearYield #NationalDebt #FiscalPolicy #FederalDeficit #DebtToGDP #GlobalBondMarkets #BorrowingCosts #MonetaryPolicy #Economics #FexingoBusiness #BusinessPodcast #TheNationalDebtPodcast #FiscalOutlook Keep every episode free: buymeacoffee.com/fexingo

In this 50th episode of The National Debt Podcast, Lucas and Luna examine a quiet but consequential shift in Treasury's borrowing strategy: the 30-year yield hovering near 5 percent. They explain why the long end of the curve matters more than the short end for the fiscal outlook, how rising term premiums are adding to the government's interest bill, and what the recent decline from 5.03 to 4.95 percent signals about market demand. Using live data from June 2026, they dive into the implications of the debt-to-GDP ratio at 122.6 percent and the widening interest expense burden. This episode offers a focused look at a structural shift that most coverage glosses over. #NationalDebt #Treasury #30YearYield #5Percent #TermPremium #FiscalOutlook #InterestExpense #DebtToGDP #BondMarket #YieldCurve #LongTermBorrowing #FederalDebt #Economics #PublicFinance #Macro #FexingoBusiness #BusinessPodcast #Economy Keep every episode free: buymeacoffee.com/fexingo

On this episode of The National Debt Podcast, Lucas and Luna break down why the U.S. federal debt-to-GDP ratio has climbed to 122.6 percent as of October 2025, up from 121 percent the year before. They explore the arithmetic behind the increase: a $1.77 trillion deficit against a growing but not fast enough economy. Lucas explains why this ratio matters more than the raw debt number, and why it's not a crisis threshold but a slow-acting fiscal constraint. Luna points out that the 10-year Treasury yield at 4.45 percent — down slightly from recent highs — suggests bond markets are still willing to lend, but at a price that reflects long-term risk. The hosts also touch on the ECB's surprise rate hike and what it signals about global inflation spillovers. A grounded, numbers-driven conversation about the metric that fiscal hawks and doves both watch. #NationalDebt #DebtToGDP #FiscalPolicy #TreasuryYields #FederalDeficit #Economics #ECB #Inflation #BondMarket #FiscalOutlook #LongTermDebt #GDP #FederalReserve #InterestRates #USDebt #FexingoBusiness #BusinessPodcast #FiscalResponsibility Keep every episode free: buymeacoffee.com/fexingo

In this episode of The National Debt Podcast, Lucas and Luna examine how the 30-year Treasury yield holding above five percent is spilling over into mortgage markets. With the 30-year fixed mortgage rate averaging 7.2 percent as of early June 2026, home affordability is at its worst in decades, and refinancing activity has collapsed to a fraction of pre-pandemic levels. The hosts break down the mechanics of the mortgage-Treasury spread, the role of MBS investors demanding higher premiums, and what this means for housing inventory and first-time buyers. They also touch on the broader fiscal implications: higher mortgage rates reduce tax revenues from property transactions and increase demand for rental assistance programs, adding to federal outlays. A must-listen for anyone trying to make sense of the housing market in a high-debt, high-rate economy. #NationalDebt #TreasuryYields #MortgageRates #30YearYield #HousingMarket #Affordability #MBS #Refinancing #FiscalPolicy #FederalDebt #HousingInventory #FirstTimeBuyers #MortgageSpread #HomeAffordability #Economics #USDebt #FexingoBusiness #BusinessPodcast Keep every episode free: buymeacoffee.com/fexingo

The ECB just raised interest rates for the first time since 2023, a direct consequence of the Iran conflict driving up energy costs. Lucas and Luna unpack how a European monetary policy move affects the US national debt picture. They explain the transmission channel: stronger euro, weaker dollar, imported inflation, and higher Treasury yields. With the 30-year yield already at 5.03%, foreign demand for US debt is a critical variable. The hosts examine how higher yields in Europe compete with US Treasuries for global capital, forcing the US to offer more attractive terms. They dig into the data: the federal debt-to-GDP ratio at 122.6%, interest costs consuming a growing share of revenue, and the risk of a fiscal feedback loop. Specific numbers include the 10-year yield at 4.55%, the 2-year at 4.13%, and the widening 10-2 spread at 40 basis points. This episode connects international monetary tightening to domestic fiscal sustainability, a topic often ignored in debt discussions. #ECB #InterestRates #NationalDebt #TreasuryYields #FederalReserve #IranConflict #EnergyCosts #Inflation #Dollar #Euro #FiscalPolicy #DebtToGDP #BondMarket #GlobalCapitalFlows #Economics #BusinessPodcast #FexingoBusiness #TheNationalDebtPodcast Keep every episode free: buymeacoffee.com/fexingo

In episode 46 of The National Debt Podcast, Lucas and Luna examine how the hotter-than-expected May wholesale inflation print — 1.1 percent month-over-month — changes the math on US debt service costs. With the 30-year yield at 5.03 percent and the federal debt-to-GDP ratio at 122.6 percent, the hosts explain why even small shifts in inflation expectations compound into hundreds of billions in extra interest payments over a decade. They break down the Treasury's increasing reliance on short-term T-bills, the ECB's rate hike spillover, and what the inverted 10-2 yield spread means for fiscal sustainability. A focused look at one specific inflation data point and its long-term implications for the federal budget — no clickbait, just the numbers. #NationalDebt #Inflation #WholesalePrices #PPI #TreasuryYield #InterestPayments #FiscalPolicy #FederalReserve #ECB #DebtToGDP #BondMarket #YieldCurve #InvertedCurve #TBills #Economics #FiscalOutlook #FexingoBusiness #BusinessPodcast Keep every episode free: buymeacoffee.com/fexingo

The European Central Bank just raised interest rates for the first time since 2023, citing an energy-driven inflation surge linked to the Iran conflict. In this episode of The National Debt Podcast, Lucas and Luna explore what that means for US fiscal policy. They break down how a stronger euro affects the dollar-denominated debt market, why foreign demand for Treasuries is at a critical juncture, and what the latest US inflation reading of 4.2 percent means for the 38-point-five-trillion-dollar federal debt. With the 30-year Treasury yield flirting with 5 percent and the yield curve still inverted, they ask whether global central bank divergence is introducing a new layer of risk for US borrowers. Specific data points include the Fed funds effective rate at 3.63 percent, the 10-year yield at 4.53 percent, and the debt-to-GDP ratio at 122.6 percent. A must-listen for anyone tracking the intersection of global monetary policy and America's long-term fiscal trajectory. #NationalDebt #ECB #RateHike #USDebt #Inflation #TreasuryYields #FederalReserve #EnergyPrices #Dollar #ForeignHoldings #FiscalPolicy #DebtToGDP #YieldCurve #GlobalRates #IranConflict #Economics #FexingoBusiness #BusinessPodcast Keep every episode free: buymeacoffee.com/fexingo

In this episode of The National Debt Podcast with Fexingo, Lucas and Luna unpack how the latest inflation data—consumer prices up 4.2% annually in May 2026—reshapes the math behind the $38.5 trillion federal debt. They explore the concept of inflating away debt: how higher nominal GDP growth improves the debt-to-GDP ratio, but also raises Treasury borrowing costs as the 30-year yield sits at 5.03%. The conversation dives into the Federal Reserve's policy implications, the real interest rate on debt, and why inflation is both a relief and a risk for fiscal sustainability. Using current data, they explain why the 4.5% 10-year yield isn't necessarily a crisis signal when inflation expectations are elevated. A must-listen for anyone trying to connect the dots between CPI reports and the national balance sheet. #NationalDebt #Inflation #CPI #TreasuryYields #FederalReserve #FiscalPolicy #DebtToGDP #RealInterestRates #BondMarket #30YearYield #10YearYield #EconomicIndicators #May2026CPI #USDebt #Macroeconomics #Economics #FexingoBusiness #BusinessPodcast Keep every episode free: buymeacoffee.com/fexingo

With today's CPI print showing 4.2 percent annual inflation, Lucas and Luna explore how rising consumer prices are quietly reshaping the federal debt arithmetic. They walk through the inflation tax concept, how nominal GDP growth eases the debt-to-GDP ratio even as borrowing costs rise, and why the Treasury's effective interest rate is climbing faster than many models predicted. Anchored in the latest data — federal debt at 38.5 trillion, a 10-year yield above 4.5 percent, and the 30-year at 5 percent — they discuss whether inflation is a hidden friend or an additional risk for fiscal sustainability. A focused, numbers-driven conversation for listeners who want the real mechanics behind the headlines. #NationalDebt #Inflation #TreasuryYields #FederalReserve #CPI #DebtToGDP #InflationTax #NominalGDP #FiscalPolicy #BondMarket #YieldCurve #Economics #Podcast #FexingoBusiness #BusinessPodcast #LucasAndLuna #TreasuryBorrowing #DebtDynamics Keep every episode free: buymeacoffee.com/fexingo

The yield curve is no longer inverted — but the 3-month Treasury yield has fallen behind the 10-year, raising questions about the Fed's control over short-term rates. As of June 10, 2026, the 3-month yield sits at 3.80 percent, while the 10-year is at 4.56 percent. That 76-basis-point gap suggests the market is pricing in rate cuts that haven't happened yet. Lucas and Luna unpack why the front end of the curve is behaving differently from the rest, what it means for Treasury's borrowing strategy, and how this dynamic ties into the broader fiscal outlook with federal debt at 38.5 trillion dollars and a deficit near 1.8 trillion. They also explore how household financial anxiety — at its highest since July 2022 — is reinforcing demand for short-dated paper, keeping yields low despite the Fed's steady stance. This episode offers a concrete look at a structural shift in the government bond market that most coverage glosses over. #ThreeMonthYield #YieldCurve #TreasuryBorrowing #FederalDebt #FedPolicy #ShortTermRates #BondMarket #FixedIncome #Economics #FiscalOutlook #Deficit #Inflation #InterestRates #CentralBanking #FexingoBusiness #BusinessPodcast #NationalDebtPodcast #LongTermFiscalHealth Keep every episode free: buymeacoffee.com/fexingo

The national debt has surpassed $38.5 trillion, but a hidden driver is surging long-term unemployment. Lucas and Luna examine how workers out of work for 27 weeks or more are straining the federal budget through reduced tax revenue and extended benefits, creating a fiscal feedback loop that conventional projections underestimate. They tie this to the steepening yield curve and the 30-year yield hitting 5.01 percent, arguing that the bond market is pricing in persistent fiscal stress that unemployment data alone hasn't captured. The episode uses the latest May ADP numbers and the New York Fed's household survey to ground the discussion. A focused look at the macroeconomic ripple effects of a labor market that is healing on the surface but fraying underneath. #LongTermUnemployment #NationalDebt #TreasuryYields #FiscalPolicy #LaborMarket #FederalBudget #BondMarket #EconomicInequality #StructuralUnemployment #FedReserve #YieldCurve #DebtToGDP #ADPReport #NYFedSurvey #Economics #FexingoBusiness #BusinessPodcast #FiscalOutlook Keep every episode free: buymeacoffee.com/fexingo

In this episode of The National Debt Podcast, Lucas and Luna explore what a 30-year Treasury yield above 5 percent means for the housing market and mortgage rates. With the 30-year yield hitting 5.02 percent on June 8, 2026, mortgage rates have crept above 7 percent, pricing out a generation of first-time buyers. The hosts discuss the transmission mechanism from Treasury yields to mortgage spreads, the role of GSEs like Fannie Mae and Freddie Mac, and why the government's own borrowing costs are now competing with homebuyers for capital. They also touch on how long-term unemployment is adding a hidden fiscal burden, pushing federal debt toward 123 percent of GDP. A must-listen for anyone trying to make sense of today's housing affordability crisis through the lens of fiscal policy. #30YearTreasury #MortgageRates #HousingMarket #NationalDebt #FiscalPolicy #FederalReserve #YieldCurve #LongTermRates #HousingAffordability #GSEs #FannieMae #FreddieMac #DebtToGDP #LongTermUnemployment #TreasuryYields #Economics #FexingoBusiness #BusinessPodcast Keep every episode free: buymeacoffee.com/fexingo

In this episode of The National Debt Podcast, Lucas and Luna examine a hidden driver of fiscal pressure: surging long-term unemployment. Drawing on the latest New York Fed survey data showing household financial worries at their highest since July 2022, and May's ADP jobs report, they unpack why workers out of work for 27 weeks or more cost the government far more than short-term unemployment — in lost income tax, higher benefit outlays, and reduced productivity. They connect this to the current yield curve dynamic, where the 10-year yield at 4.47% and 30-year at 4.97% reflect markets pricing in slower potential growth. The hosts discuss the structural shift in the labor market post-COVID and how persistent long-term joblessness could keep deficit projections elevated, even as headline unemployment remains low. A focused look at the labor-debt nexus that often flies under the radar. #LongTermUnemployment #NationalDebt #TreasuryYields #LaborMarket #FiscalPolicy #StructuralUnemployment #FederalDeficit #NewYorkFedSurvey #ADPJobsReport #TenYearYield #ThirtyYearYield #YieldCurve #MacroEconomics #DebtToGDP #EconomicGrowth #FexingoBusiness #BusinessPodcast #Economics Keep every episode free: buymeacoffee.com/fexingo

The yield curve has been inverted for over two years — one of the longest stretches on record — and it's not behaving like past cycles. Lucas and Luna dig into why the 2-year yield is still above the 10-year even as the Fed has cut rates, what that says about the bond market's view of fiscal policy, and why this persistent inversion might be a bigger warning sign than the steepeners that usually precede a recession. They anchor the conversation in the latest data: the 10-2 spread at 38 basis points as of June 5, the 3-month yield at 3.78 percent, and the federal debt-to-GDP ratio hitting 122.6 percent. Along the way they discuss what the Treasury's borrowing patterns — heavily weighted toward short-dated bills — tell us about the government's own view of long-term risk, and why the traditional recession signal may have changed for good. #YieldCurve #FiscalPolicy #TreasuryBorrowing #NationalDebt #FederalReserve #RecessionSignal #BondMarket #InterestRates #Economics #FexingoBusiness #BusinessPodcast #LucasAndLuna #DebtToGDP #InvertedCurve #LongTermRates #ShortTermDebt #FiscalDominance #TreasuryAuctions Keep every episode free: buymeacoffee.com/fexingo

Episode 37 of The National Debt Podcast looks at a growing anomaly in government borrowing: Treasury is issuing more short-term bills than long-term bonds, even as the debt crosses 38.5 trillion dollars. Lucas and Luna examine why the 3-month yield at 3.62 percent is cheaper than 30-year bonds at nearly 5 percent, what that means for refinancing risk, and how the Federal Reserve's interest on reserve balances rate is trapping the yield curve in an inverted shape. Drawing on current data from June 2026, they explore the structural shift in Treasury's funding strategy and the quiet fiscal danger of borrowing short in a world of high deficits. No clickbait, just the numbers and what they signal about the government's approach to managing 38.5 trillion in debt. #TreasuryBorrowing #NationalDebt #FiscalPolicy #YieldCurve #ShortTermBills #FederalReserve #InterestRates #IOER #DebtManagement #RefinancingRisk #TreasuryAuctions #38Trillion #GovernmentDebt #Economics #FexingoBusiness #BusinessPodcast #NationalDebtPodcast #FiscalOutlook Keep every episode free: buymeacoffee.com/fexingo

In this episode, Lucas and Luna drill into a single number that tells a big story: the 10-year minus 2-year Treasury yield spread is now 38 basis points. That sounds small, but it's a sign that markets are pricing in a long-term debt burden that short-term rate cuts can't fix. Lucas walks through the math: why a flat or rising spread during a rate-cutting cycle is unusual, what it means for the Treasury's borrowing costs, and how the 122.6 percent debt-to-GDP ratio changes the calculus. Luna pushes back with a question about whether this is just a 'term premium' story or something deeper. They compare today to past episodes of fiscal dominance, from the 1980s to the post-2008 era, and ask whether the bond market is finally forcing a choice between growth and solvency. #YieldSpread #TreasuryYields #NationalDebt #FiscalRisk #BondMarket #DebtToGDP #FederalReserve #InterestRates #TermPremium #Economics #FiscalDominance #TenYearYield #TwoYearYield #LucasAndLuna #FexingoEconomics #BusinessPodcast #MacroEconomics #USDebt Keep every episode free: buymeacoffee.com/fexingo

In Episode 35 of The National Debt Podcast, Lucas and Luna drill into a hidden fiscal accelerant: long-term unemployment. With the May jobs report due Friday and the Federal debt hitting 38.5 trillion, they break down how workers out of work for six months or more drive up safety-net spending and depress tax receipts for years. They connect new ADP payroll data (122,000 private-sector jobs in May) with the stubborn rise in long-term joblessness, and explain why the CBO scores a long-term unemployed worker as a net fiscal drag of roughly $40,000 per year. Lucas points to the 30-year Treasury yield at 5% as the market's quiet vote that the labor-market scarring is a permanent cost, not a cyclical blip. Luna contrasts the current labor-force participation rate with pre-pandemic levels. A grounded, numbers-driven conversation about why the debt clock keeps ticking faster than headline job figures suggest. #NationalDebt #LongTermUnemployment #LaborMarketScarring #FiscalPolicy #TreasuryBorrowing #FederalDeficit #JobsReport #ADPPayrolls #30YearYield #DebtToGDP #BudgetConcern #MayJobs #Economics #FexingoBusiness #BusinessPodcast #HiddenCosts #StructuralUnemployment #FiscalDrag Keep every episode free: buymeacoffee.com/fexingo

The U.S. Treasury now issues more short-term debt than at any point since the financial crisis. Lucas and Luna explain why the government is effectively borrowing on a credit card — issuing bills with maturities under one year to fund long-term spending. They break down the mechanics: the Treasury's cash management problem, the role of the debt ceiling, and what happens when 3-month yields stay above 3.6 percent while the 30-year sits at 5 percent. Using June 2026 data, they show how the ratio of bills to total marketable debt has climbed past 22 percent, and why that creates rollover risk for every new auction. This episode connects the yield curve's front-end dynamics to a deeper question: how long can the fiscal system run on short-term funding before the market demands a premium? #TreasuryBorrowing #ShortTermDebt #NationalDebt #YieldCurve #TBill #3MonthYield #FiscalPolicy #DebtManagement #TreasuryAuctions #BondMarket #FederalDebt #Economics #MacroEconomics #FiscalOutlook #FexingoBusiness #BusinessPodcast #EconomicsPodcast #LucasAndLuna Keep every episode free: buymeacoffee.com/fexingo

Lucas and Luna dig into a puzzling signal in the Treasury market: the 3-month bill yield is holding near 3.78 percent while the 10-year sits at 4.49. That narrow 71-basis-point gap is historically abnormal and suggests the market is pricing in a very different rate path than the Fed's current stance. They walk through what the short end is saying about recession risk, the Fed's next moves, and how this twist connects to the broader fiscal outlook as the national debt crosses 38.5 trillion dollars. A focused look at one overlooked yield-curve corner that might be telling us more than the 10-2 spread. #TreasuryYields #ThreeMonthBills #YieldCurve #FedPolicy #ShortEnd #NationalDebt #BondMarket #RecessionSignal #InterestRates #FiscalPolicy #Economics #FexingoBusiness #BusinessPodcast #LucasAndLuna #DebtPodcast #MonetaryPolicy #FedFundsRate #Inversion Keep every episode free: buymeacoffee.com/fexingo

This week on The National Debt Podcast, Lucas and Luna connect two seemingly separate dots: the rising long-term unemployment rate and the accelerating national debt. With federal debt at 38.5 trillion dollars and the 30-year Treasury yield hovering near 5 percent, they explain why workers who are out of a job for more than six months aren't just a labor-market problem — they're a structural fiscal problem. Lucas breaks down the math: how long-term joblessness reduces tax revenue, forces higher spending on unemployment insurance and food assistance, and ultimately widens the deficit. Luna points to the human cost — lost skills, reduced lifetime earnings, and the hidden drag on GDP. Using data from the May jobs preview and the latest Treasury yields, they argue that if long-term unemployment is surging even as headline job growth looks decent, the bond market is going to notice. The episode closes on the question no policymaker wants to answer: can we afford to ignore the long-term unemployed when the debt-to-GDP ratio is already at 122 percent? #LongTermUnemployment #NationalDebt #FederalDeficit #TreasuryYields #FiscalPolicy #EconomicRecovery #LaborMarket #BondMarket #DebtToGDP #30YearYield #JoblessRecovery #StructuralUnemployment #GovernmentSpending #TaxRevenue #Economics #FexingoBusiness #BusinessPodcast #NationalDebtPodcast Keep every episode free: buymeacoffee.com/fexingo

Lucas and Luna dig into a puzzle that flummoxes the bond market: the Fed has cut short-term rates to 3.63 percent, but the 30-year Treasury yield sits stubbornly at 4.98 percent. They walk through the data—the 10-year at 4.46, the 2-year at 4.05—and explain why fiscal deficits, term premium, and foreign demand are overriding the central bank's signals. With the national debt at 38.5 trillion and debt-to-GDP at 122.6 percent, the conversation reveals how Washington's borrowing appetite is rewriting the rules of monetary policy transmission. A fresh angle for anyone wondering why mortgage rates and corporate bonds aren't following the Fed's lead. #FederalReserve #TreasuryYields #NationalDebt #TermPremium #FiscalDominance #BondMarket #MonetaryPolicy #FiscalPolicy #LongTermRates #YieldCurve #DebtToGDP #CentralBanking #InterestRates #Macroeconomics #Economics #FexingoBusiness #BusinessPodcast #TheNationalDebtPodcast Keep every episode free: buymeacoffee.com/fexingo

Lucas and Luna explore what the 30-year Treasury yield hovering near 5 percent means for the federal debt trajectory. With the yield at 4.99 percent as of early June 2026, they discuss how persistent long-term rates reshape borrowing costs, crowd out other spending, and signal market skepticism about fiscal discipline. Lucas breaks down the math: each percentage point increase in the 30-year adds roughly $200 billion in interest costs over a decade. They also touch on how tariff uncertainty and conflict in Iran are adding to the premium investors demand for long-term bonds. A focused look at one specific yield level and its structural implications. #30YearTreasury #TreasuryYield #NationalDebt #FiscalPolicy #InterestRates #BondMarket #DebtService #FederalBorrowing #YieldCurve #Tariffs #IranWar #Economics #Podcast #FexingoBusiness #BusinessPodcast #DebtTrajectory #LucasAndLuna #LongTermRates Keep every episode free: buymeacoffee.com/fexingo

The national debt has surpassed $38.5 trillion, with interest costs consuming a growing share of the federal budget. Lucas and Luna examine how the latest economic data—strong payrolls, rising tariffs, and elevated bond yields—complicates the Treasury's borrowing strategy. They discuss the 30-year yield hovering near 5%, the 10-year at 4.49%, and what the 10-2 yield spread of 41 basis points says about fiscal risk. The episode also covers why foreign buyers are hesitant, the impact of the Iran conflict on energy prices, and whether the Fed's rate path offers any relief. A focused look at the tension between short-term economic strength and long-term debt trajectory. #NationalDebt #TreasuryYields #FederalReserve #BondMarket #FiscalPolicy #InterestCosts #DebtToGDP #Tariffs #IranWar #Inflation #ADPPayrolls #JobOpenings #10YearTreasury #30YearTreasury #YieldCurve #Economics #FexingoBusiness #BusinessPodcast Keep every episode free: buymeacoffee.com/fexingo

The yield curve between the 10-year and 2-year Treasury has been positive for months, but today it's narrowing again. Lucas and Luna dig into why the spread matters beyond the usual recession signal — focusing on how the Treasury's shifting debt maturity mix is distorting that signal. With the 10-year at 4.47 percent and the 2-year at 4.05 percent, they explore what the 41-basis-point spread actually says about long-term fiscal credibility, investor demand, and the cost of rolling over short-term debt. Including how the Iran war and tariff uncertainty are reshaping foreign buyer appetite. A grounded look at one number that sums up a lot of tension. #YieldCurve #TreasuryBonds #NationalDebt #BondMarket #10YearYield #2YearYield #FiscalPolicy #InterestRates #DebtManagement #FederalReserve #IranWar #Tariffs #ForeignInvestors #Macroeconomics #Economics #FexingoBusiness #BusinessPodcast #BondInvesting Keep every episode free: buymeacoffee.com/fexingo

Lucas and Luna unpack what the latest Treasury auction data reveals about changing demand dynamics. With the 10-year note yield hovering near 4.45 percent and the 30-year bond above 4.97 percent, auction bid-to-cover ratios have been sliding. Lucas explains why primary dealer takedown is at its highest in years, meaning fewer end-buyers are stepping up. They discuss how geopolitical risks from the Iran conflict, sticky core inflation at 3.3 percent, and a federal debt-to-GDP ratio of 122.6 percent are reshaping the market for US government debt. Luna asks whether the Treasury's increasing reliance on short-dated bills could backfire if foreign buyers continue to pare holdings. The hosts also explore what this means for long-term yields and fiscal sustainability, tying it to the recent steepening of the yield curve. A focused look at the mechanics behind the borrowing machine. #TreasuryAuctions #NationalDebt #BondMarket #YieldCurve #PrimaryDealers #FiscalOutlook #USDebt #InvestorDemand #GeopoliticalRisk #IranWar #CoreInflation #FederalDebtGDP #LucasAndLuna #FexingoBusiness #BusinessPodcast #EconomicsShow #MarketStructure #LongTermRates Keep every episode free: buymeacoffee.com/fexingo

Episode 26 of The National Debt Podcast examines a structural shift in the Treasury market: as the total federal debt surpasses $38.5 trillion, the composition of bond buyers is changing. Lucas and Luna discuss how foreign official holdings have declined from 35% of marketable debt in 2012 to roughly 23% today, while domestic institutional investors like pension funds and banks are stepping in under different incentives. With the 30-year yield hovering near 5% and the Fed funds rate at 3.63%, the episode explores whether the Treasury can keep finding buyers for longer-term debt at current yields. Specific data points include the 10-year yield at 4.45%, the 2-year at 3.98%, and the 10-2 spread narrowing to 42 basis points. The conversation also touches on the Fed's shrinking balance sheet and what it means for auction dynamics. #NationalDebt #TreasuryMarket #BondMarket #FederalReserve #FiscalPolicy #DebtClock #30YearYield #10YearYield #YieldCurve #ForeignHoldings #InstitutionalInvestors #PensionFunds #AuctionDemand #Economics #FexingoBusiness #BusinessPodcast #FiscalOutlook #DebtService Keep every episode free: buymeacoffee.com/fexingo

Episode 25 of The National Debt Podcast examines the hidden fiscal cost of the Iran war. With the federal debt at 38.5 trillion dollars and debt-to-GDP at 122.6 percent, the conflict is compounding inflation and forcing the Treasury to borrow more at higher rates. Lucas and Luna break down how an extra 450 dollars per household in energy costs feeds into the deficit, why the 30-year yield is flirting with 5 percent, and what the Fed's focus on inflation means for fiscal policy. No hot takes — just the numbers that connect geopolitical risk to your borrowing costs. #NationalDebt #IranWar #EnergyInflation #TreasuryYields #FiscalPolicy #FederalDeficit #BondMarket #Economics #InterestRates #Inflation #HouseholdFinance #GeopoliticalRisk #FederalReserve #DebtToGDP #GovernmentBorrowing #30YearYield #FexingoBusiness #BusinessPodcast Keep every episode free: buymeacoffee.com/fexingo

As the national debt crosses 38.5 trillion dollars and the 30-year Treasury yield hovers near 5 percent, Lucas and Luna explore how foreign buyers are retreating from US debt auctions. The episode digs into the shifting composition of Treasury holders, the rising term premium demanded by investors, and what it means for the government's ability to borrow cheaply. With data from the latest quarterly refunding announcement and a look at Japan and China's reduced appetite, the hosts explain why the US may need to offer higher yields to attract buyers. They also connect this to the broader fiscal picture—how defense spending related to the Iran conflict and persistent energy inflation are adding pressure. A focused, number-driven conversation about the mechanics of public debt and the real cost of borrowing in a high-debt era. #NationalDebt #Treasury #BorrowingCosts #30YearYield #ForeignBuyers #Japan #China #TermPremium #FiscalPolicy #IranWar #EnergyInflation #AuctionDemand #LongTermRates #Economics #FexingoBusiness #BusinessPodcast #DebtClock #FederalDeficit Keep every episode free: buymeacoffee.com/fexingo

Lucas and Luna break down how the U.S. national debt has surged past 38.5 trillion dollars, with a specific focus on the $450 annual energy cost hit to households from the Iran conflict. They examine why war-related spending is compounding the deficit faster than expected, and what the widening yield spread means for long-term borrowing costs. With the 30-year Treasury yield hovering near 5 percent, the hosts ask whether fiscal discipline is possible amid geopolitical shocks. A data-driven conversation on debt, deficits, and the hidden price of conflict. #NationalDebt #FederalDeficit #IranWarCosts #TreasuryYields #EnergyInflation #FiscalPolicy #GeopoliticalRisk #DebtToGDP #30YearYield #FederalBorrowing #InterestCosts #ConsumerImpact #Economics #FexingoBusiness #BusinessPodcast #Podcast #LongTermDebt #YieldSpread Keep every episode free: buymeacoffee.com/fexingo

In this episode of The National Debt Podcast, Lucas and Luna examine how the Iran conflict is driving up energy prices and creating a new fiscal strain on the federal budget. With core inflation at 3.3% and the 30-year yield flirting with 5%, they trace the connection between geopolitical shocks, consumer spending, and Treasury's borrowing costs. The hosts break down why the national debt has surpassed $38.5 trillion and how persistent energy inflation complicates the Fed's path forward. A focused look at the real-economy channel from oil fields to bond markets. #NationalDebt #TreasuryBorrowing #EnergyInflation #IranWar #FiscalPolicy #FederalBudget #BondYields #30YearTreasury #CoreInflation #GeopoliticalRisk #ConsumerSpending #FedPolicy #NationalDebtPodcast #FexingoBusiness #BusinessPodcast #Economics #Treasury #FiscalOutlook Keep every episode free: buymeacoffee.com/fexingo

In this episode of The National Debt Podcast, Lucas and Luna examine a quiet but critical shift in the federal budget: interest on the national debt is now consuming a larger share of tax revenue than federal spending on children's programs, transportation infrastructure, and science research combined. Using fresh data from the latest Treasury report through May 2026, they break down how net interest costs have climbed past $1.1 trillion annually—roughly 16 percent of all federal outlays—and what that means for future fiscal flexibility. They contrast today's rate environment with historical periods of high debt service, and explore the political economy of a budget where borrowing costs increasingly crowd out discretionary priorities. A specific, numbers-driven look at one of the slow-moving forces reshaping American fiscal policy. #NationalDebt #FederalBudget #InterestCosts #FiscalPolicy #Treasury #DebtService #CrowdingOut #DiscretionarySpending #BudgetCrisis #USDebt #FederalSpending #InterestRates #Economics #FiscalOutlook #DebtTrajectory #FexingoBusiness #BusinessPodcast #EconomicPolicy Keep every episode free: buymeacoffee.com/fexingo

With the US national debt breaking through $38.5 trillion and the debt-to-GDP ratio climbing above 122%, Lucas and Luna dig into why the debt is growing faster than ever — even before the next recession. They break down the mechanics of compounding debt service, the feedback loop between higher yields and bigger deficits, and why the Treasury's borrowing costs are now a structural fiscal driver, not just a cyclical annoyance. Using the latest yield data and debt numbers from May 2026, they explain how $1.77 trillion in annual interest payments is reshaping the budget debate — and why the normal rules of fiscal sustainability may no longer apply. No alarmism, just the arithmetic. #NationalDebt #TreasuryYields #FiscalPolicy #DebtToGDP #InterestPayments #FederalDeficit #BondMarket #LongTermRates #Economics #FexingoBusiness #BusinessPodcast #DebtService #ThirtyYearTreasury #TenYearYield #FiscalOutlook #GovernmentBorrowing #BudgetCrisis #MacroEconomics Keep every episode free: buymeacoffee.com/fexingo

Episode 19 of The National Debt Podcast drills into the 30-year Treasury yield, which has crossed 5 percent for the first time in over a decade. Lucas and Luna examine why the long bond is breaking out while shorter-term yields stay flat, and what that says about fiscal credibility. They look at the data: the 30-year yield hit 5.01 percent on May 27, while the 2-year sits at 4.00, widening the spread to 46 basis points. They connect this to rising energy costs, persistent core inflation at 3.3 percent, and the $1.77 trillion federal deficit. The conversation unpacks how foreign buyers are pulling back, the Fed's hawkish stance, and what a 5 percent 30-year means for mortgage rates, corporate borrowing, and the national debt trajectory. This is a deep-dive on one number that changes how we think about borrowing costs for a generation. #30YearTreasury #TreasuryYield #NationalDebt #BondMarket #FiscalPolicy #Economics #Podcast #FexingoBusiness #BusinessPodcast #InterestRates #FederalReserve #Inflation #EnergyCosts #Deficit #ForeignBuyers #LongTermDebt #YieldCurve #BorrowingCosts Keep every episode free: buymeacoffee.com/fexingo

Episode 18 of The National Debt Podcast examines a quiet but consequential shift in the US Treasury market: foreign official holdings of US government debt have declined by roughly $100 billion over the past year, according to Treasury International Capital data. Hosts Lucas and Luna unpack why traditional heavy buyers like Japan and China are reducing their exposure, what that means for domestic absorption, and how the Treasury's borrowing costs are being shaped by geopolitical fragmentation. They tie the trend to the 30-year yield hovering near 5 percent and the Fed's ongoing balance-sheet runoff. A specific, timely look at who holds the national debt—and what happens when they start letting go. #NationalDebt #Treasuries #ForeignHolders #TICData #Japan #China #FederalReserve #BondMarket #YieldCurve #FiscalPolicy #DebtToGDP #Geopolitics #DollarHeavy #TreasuryAuctions #LongTermRates #Economics #FexingoBusiness #BusinessPodcast Keep every episode free: buymeacoffee.com/fexingo

The national debt has climbed past $38.5 trillion, and the federal deficit is still running nearly $1.8 trillion annually. But the real story isn't the raw number — it's the compounding effect of higher interest rates on a debt stock that keeps rolling over at higher yields. In this episode, Lucas and Luna unpack the math of debt dynamics, using the latest Treasury data from late May 2026. They explain why the effective interest rate on the debt is rising faster than headline yields suggest, and what that means for future budgets. The conversation touches on the Fed's current rate stance, the steep yield curve, and how persistent inflation complicates the fiscal picture. A focused, number-driven look at a problem that isn't getting any smaller. #NationalDebt #FederalDeficit #TreasuryYields #InterestRates #FiscalPolicy #DebtDynamics #EffectiveInterestRate #Inflation #FederalReserve #BondMarket #GDPRatio #Budget2026 #DebtService #YieldCurve #Economics #FexingoBusiness #BusinessPodcast #TheNationalDebtPodcast Keep every episode free: buymeacoffee.com/fexingo

The U.S. Treasury is paying the highest long-term borrowing costs in decades, with the 30-year bond yield above 5 percent and the 10-year at 4.5 percent. In this episode, Lucas and Luna explore why the Treasury has been forced to issue more long-term debt even as rates climb, what that means for the federal budget, and how the persistent supply of government bonds is reshaping the bond market. They dig into the numbers: the federal debt now stands at $38.5 trillion, debt-to-GDP has hit 122.6 percent, and interest payments are on track to exceed $1.2 trillion this year. The hosts also discuss the risk of a vicious cycle where higher rates lead to more borrowing, which in turn pushes rates higher. A must-listen for anyone trying to understand the fiscal bind Washington finds itself in as of May 2026. #NationalDebt #Treasury #BondMarket #LongTermRates #FiscalPolicy #DebtToGDP #InterestPayments #YieldCurve #30YearBond #10YearTreasury #FederalBorrowing #BudgetDeficit #DebtTrajectory #TreasuryAuctions #FiscalSustainability #Economics #FexingoBusiness #BusinessPodcast Keep every episode free: buymeacoffee.com/fexingo

The 30-year Treasury yield has stayed above 5% for weeks while the short end remains anchored near 3.6%. Lucas and Luna break down what this persistent steepening means for the federal government's borrowing strategy, why the Treasury is increasingly reliant on long-term debt, and how the debt-to-GDP ratio crossing 122% changes the bond market's calculus. With consumer sentiment at a record low and the Fed on hold, they explore whether the term premium is finally repricing fiscal risk. Specific numbers: 30-year yield at 5.07%, 10-year at 4.48%, debt-to-GDP at 122.6%. #NationalDebt #TreasuryYields #30YearTreasury #YieldCurve #FederalDeficit #DebtToGDP #TermPremium #FiscalPolicy #BondMarket #FederalReserve #ConsumerSentiment #ECB #IranWar #Inflation #Podcast #Economics #FexingoBusiness #BusinessPodcast Keep every episode free: buymeacoffee.com/fexingo

Lucas and Luna examine how interest payments on the national debt have become the fastest-growing line item in the federal budget, now exceeding discretionary spending on defense and non-defense programs combined. As of May 2026, net interest costs run roughly one point two trillion dollars annually, driven by a debt-to-GDP ratio above 122 percent and rates that remain elevated even as the Fed holds at 3.65 percent. The hosts trace how this dynamic crowds out fiscal flexibility, forcing tough choices between borrowing more or cutting programs. They explain why the Treasury's recent shift toward issuing more long-term debt locks in higher costs for decades, and what the thirty-year yield at 5.03 percent means for the next administration. The conversation is grounded in specific numbers: the 10-year yield at 4.49 percent, the spread versus the 2-year at 49 basis points, and the structural gap between what the government spends on interest versus what it invests. A sober look at how the math is changing Washington's options. #NationalDebt #FederalBudget #InterestPayments #Treasury #DebtService #FiscalPolicy #BudgetDeficit #LongTermDebt #BondMarket #YieldCurve #FedPolicy #DebtToGDP #CrowdingOut #FiscalFlexibility #Economics #Macro #FexingoBusiness #BusinessPodcast Keep every episode free: buymeacoffee.com/fexingo

The U.S. Treasury recently announced it will increase the size of its long-term bond auctions, including the 10-year and 30-year, even as the 30-year yield hovers near 5%. Lucas and Luna break down why the Treasury is shifting its borrowing strategy toward longer maturities, how this affects the yield curve, and what it means for investors and taxpayers. They examine the latest data on the federal debt-to-GDP ratio, which has climbed to 122.6%, and the interest expense on the national debt, now the fastest-growing budget item. The hosts also discuss how the Treasury's decision influences mortgage rates and corporate borrowing costs. This episode is grounded in the May 2026 market environment, with the 10-year yield at 4.57% and the 30-year at 5.10%. A must-listen for anyone trying to understand the mechanics behind government borrowing and fiscal policy. #Treasury #NationalDebt #LongTermBonds #YieldCurve #30YearTreasury #FiscalPolicy #BorrowingStrategy #DebtToGDP #InterestExpense #BondAuctions #InvestorStratety #MortgageRates #Economics #MacroFinance #GovernmentDebt #FexingoBusiness #BusinessPodcast #FiscalOutlook Keep every episode free: buymeacoffee.com/fexingo

Consumer sentiment just hit a record low in May 2026 as inflation worries persist—but what does that have to do with the national debt and Treasury yields? Lucas and Luna unpack the overlooked link between how Americans feel about the economy and the government's cost of borrowing. With the 30-year Treasury at 5.06% and the debt-to-GDP ratio climbing above 122%, they explore why a pessimistic public can drive yields higher, how the Iran conflict is reshaping expectations, and what this means for the Treasury's ability to fund itself. Plus: why the surge in short-term borrowing is piling pressure on future budgets. A focused look at the psychology behind the numbers. #ConsumerSentiment #NationalDebt #TreasuryYields #Inflation #IranWar #FederalReserve #DebtToGDP #BudgetDeficit #BondMarket #YieldCurve #Economics #FiscalPolicy #PublicDebt #CentralBanking #Macroeconomics #MarketPsychology #FexingoBusiness #BusinessPodcast Keep every episode free: buymeacoffee.com/fexingo