Economic Growth Alone Won’t Solve the US Debt Problem

Published on November 4, 2026

The significance of federal debt breaching the 100%-of-GDP threshold is debatable, but if debt keeps rising relative to the economy there is surely a point at which it becomes problematic for the US. In one sense it already has: net interest on the debt accounted for 14% of federal spending during the fiscal year that ended in September, and more than half the $2 trillion deficit.

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Setting Expectations for a Successful Swap

November 4, 2026
Elevated Treasury yields have created attractive income opportunities across the fixed income markets. Corporate and municipal bonds offer additional yield opportunities, while positively sloped yield curves provide investors with further motivations to extend maturities. For many investors, the opportunity to capture higher income and lock it in for longer periods has renewed interest in explorin

Commercial Real Estate: A Reset, Not a Replay

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One concern raised by the recent backup in rates is whether CRE is about to relive the stress of 2023, when depressed post-pandemic office demand coincided with rising rates and a regional bank crisis, including Silicon Valley Bank and First Republic Bank. The selloff in public REITs suggests investors are repricing property values for a higher-rate world.