The US national debt is closing in on $35 trillion, triggering a warning to investors from analysts at JPMorgan Chase.
According to new data from the Treasury, the total outstanding public debt amounts to $34.99 trillion – or $34,997,540,505,103 to be exact – as of July 25th.
That’s up from $32.59 trillion just one year ago.
In a new memo to investors from its private banking arm, JPMorgan analysts say there are underlying risks associated with America’s ballooning deficits and high sovereign debt levels. And according to the bank, investors shouldn’t expect any significant improvement in America’s fiscal outlook any time soon.
“The bottom line for investors is that we don’t expect meaningful improvement in the trajectory for U.S. debt or deficits in the medium term. However, multi-asset portfolios should still be able to deliver for investors. Monetary policymakers have maintained credibility, investor…
