Deutsche Bank maintains a 10-year long-term debt to the United States, which is expected to increase to 4.8 per cent at year-end

On 14 July, Deutsche Bank strategists stated in their latest report that maintaining an empty view of the length of the United States Treasury debt was due to the continued increase in the free circulation of government bonds in the four major economies of the United States, the United Kingdom, the euro zone and Japan, which was expected to push up the term premium on long-term bonds. By the end of this year, the Deutsche Bank expects that the United States will have increased to 4.80 per cent of its 10-year sovereign debt and 4.3 per cent of its 2-year national debt. This means that the United States debt yield curve will be “temperature and steeper” than current spot and forward levels. Kim Xian