Natalia Gurushina
@NGurushina
Chief EM Economist at VanEck.
660 Following 14.3K Followers
Major yield spikes can structurally lock in higher borrowing costs for years - this is a lesson both from EM and the U.S. own history. Net interest outlays in the U.S. can surpass the 1980/90s peak (as % GDP) - even with much lower yields - because the debt/GDP ratio skyrocketed
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The 10-year U.S. Treasury yield may be hitting its highest level in years, but it remains a “mere” one standard deviation from the multi-decade trend, which is far from historically extreme territory
@EricFine123
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