US debt crisis is set to reach unprecedented levels, with the CBO projecting a cumulative federal budget deficit of USD 23tln between 2026 and 2035, up USD 1.4tln from prior forecast
Newsquawk Staff ·
US debt crisis is set to reach unprecedented levels, with the CBO projecting a cumulative federal budget deficit of USD 23tln between 2026 and 2035, up USD 1.4tln from prior forecast.
What it means
The projection of a cumulative federal budget deficit of USD 23 trillion between 2026 and 2035 is concerning, as it reflects significant fiscal challenges for the U.S. economy. This escalation in the deficit could pressure the dollar and influence monetary policy discussions, potentially affecting markets across currencies, commodities, and equities. Investors should consider how this outlook might shift risk sentiment and impact assets sensitive to U.S. fiscal health.
- Ukrainian President Zelensky says negotiations between Ukraine, Russia and the US could take place as early as November 10th
- US Midterms (6 days out): Florida flips to a Republican early-vote lead and Kansas narrows further; Crystal Ball shifts House and Senate races towards Democrats
- Israeli election results show Netanyahu's bloc with 53 seats, Eisenkot's bloc with 47 and Arab parties with 19, following the counting of all votes excluding double-envelope ballots, i24 reports
- Atomic Energy Organization of Iran Spokesman says protocol for building small reactors with Russia is being finalized
- [MARKET ANALYSIS] Crude grinds higher, Dutch TTF remains just under EUR 100/MWh, metals subdued
Related headlines
- [MARKET ANALYSIS] Antipodeans diverge as AUD saw strong CPI and NZD slumped on a surprise RBNZ hold, DXY awaits the Fed5 hours ago
- Notable FX Option Expiries for today's NY cut: 28th October 20266 hours ago
- Ukrainian President Zelensky says Western powers could eventually discuss Russia's demands for security guarantees, but insists Ukraine's own security needs must be addressed first5 hours ago
- Al-Mayadeen correspondent in Iran says Iranian officials believe that Trump wants to bring the nuclear issue into the negotiations, which Iran rejects1 hour ago
- Senior US Treasury trade official Eric Ettorre will leave to join Netflix (NFLX), reports Axios1 hour ago
- [MARKET ANALYSIS] Contained, but a bearish skew, across fixed income into the UK Budget and FOMC5 hours ago
- [MARKET ANALYSIS] A busy morning for EU banking names, with tech stocks supported by upbeat SK Hynix earnings5 hours ago
- Russian Deputy PM Novak says they are open to work with US partners on energy, but there are no current discussions around a return to specific projects4 hours ago
- Atlanta Fed GDPNow (Q3) 3.3% (prev. 3.4%)20 min ago
- UK DMO says gross gilt issuance planned for 2026/27 is GBP 250.6bln (exp. 249.6bln, prev. 246.2bln in April remit)1 hour ago
- US EQUITY OPEN: Indices rangebound ahead of FOMC and major earnings59 min ago
- Amphenol (APH) Q3 2026 (USD): Adj. EPS 0.80 (exp. 0.73), Sales 10.2bln (exp. 9.49bln)3 hours ago
- GE Vernova (GEV) expects USD 50-100mln of annual cost synergies from Trench by 2030, according to the conference call3 hours ago
- Etsy Inc. (ETSY) Q3 2026 (USD): EPS 1.00 (exp. 0.77), Revenue 692mln (exp. 668mln)3 hours ago
- Garmin Ltd. (GRMN) Q3 2026 (USD): Adj. EPS 2.76 (exp. 2.41), Revenue 1.99bln (exp. 1.99bln)4 hours ago