A whopping $7.6 trillion in interest-bearing US public debt will mature within a year, Apollo’s chief economist said.
That represents 31% of all outstanding US government debt, adding upward pressure on rates.
That’s still below 2020, when debt maturing within a year made up a significantly larger share.
Nearly a third of all outstanding US government debt is set to mature in the next 12 months, according to an analysis from asset management firm Apollo.
A chart from Chief Economist Torsten Sløk shows that the share of US public debt set to mature in a year or less has steadily risen toward pandemic-era levels and is now at 31%. In terms of dollar amount, that’s $7.6 trillion, a high not seen since early 2021.
In addition, public debt maturing in the near term accounts for more than a quarter of US GDP. However, this is below its 2020 peak, when it made up a significantly larger share.
Still, Sløk said the $7.6 trillion coming due is one source of upward pressure on US rates.
Energy News Beat