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But we saved everything 🙂.
Sonali Basak reports that higher yields have driven the total price paid on U.S. borrowing above $1.1 trillion. This aggregate amount is now more than triple the level seen during Covid, and Basak adds that the next trillion in borrowing costs is likely to be reached in a much shorter timeframe.
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Basak previously projected that interest rates could reach 5 percent, with 5.3 percent possible by the end of October, in her recent outlook on borrowing costs (link). Separately, she reported that around 80 percent of surveyed investors are prioritizing power as a main focus in infrastructure and AI investment (link). Each update reflects current areas of concern for investors and policymakers.