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E.J. Antoni highlights a significant increase in U.S. national debt, noting it rose by $72 billion in a single day, reaching a record $39.66 trillion.
Antoni also points out that yields on 2-year and 10-year U.S. Treasury securities have reached their highest levels of the year, warning that unless Congress cuts spending, interest payments on the debt—already above $1.3 trillion annually—could soar even higher.
Antoni previously highlighted a slowdown in the ADP private payroll growth 4-week moving average to 19,750 per week for late June. He also reported that manufacturing and trade inventories rose 0.3% in May as sales increased 2.1%. Both data points reflect recent trends he has tracked across labor and manufacturing sectors.