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But we saved everything 🙂.
Jack Salmon highlights that real interest rates in the U.S. experienced an epochal decline in late 2020, even as debt increased. This downward trend in rates has since stalled and reversed, reflecting changing economic conditions.
Jack Salmon has previously tracked shifts in fiscal and market indicators. In May, he reported that U.S. tariff revenues fell below zero as refunds to importers outpaced collections. Salmon also highlighted that a one percentage point rise in gilt yields increases UK mortgage costs by around £100 per month for the average home.