November 7, 2023
United States:
US Debt Interest Bill Rockets Past a Cool $1 Trillion a Year
US Treasuries may face renewed selling pressure into the new year if the nation’s swelling debt repayment bill is any guide.
Estimated annualized interest payments on the US government debt pile climbed past $1 trillion at the end of last month, Bloomberg analysis shows. That amount has doubled in the past 19 months, and is equivalent to 15.9% of the entire Federal budget for fiscal year 2022.
Europe:
Russia’s Crude Shipments Are Running Close to a Four-Month High
Russia is shipping crude through its ports at a rate close to the highest seen in more than four months.
About 3.48 million barrels a day of crude was shipped from Russian ports in the four weeks to Nov. 5, tracking data monitored by Bloomberg show, edging up from the period to Oct. 29. That’s despite a dip in the more volatile weekly figures.
Asia:
China’s Import Surprise Offers Hope as Recovery Risks Linger
China’s trade data for October offered a mixed picture for the economy’s outlook, as an unexpected pickup in imports was offset by signs that global demand for Chinese goods is struggling to gain traction.
Imports rose 3% from a year earlier last month, the first gain in eight months and bucking the consensus forecast for a drop. Overseas shipments dropped 6.4%, worse than expectations. The resulting trade surplus was $56.5 billion.
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