Natalia Gurushina(@NGurushina):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

Natalia Gurushina

@NGurushina

Chief EM Economist at VanEck.

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Natalia Gurushina@NGurushina

2026.09.23 17:56

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