Bank of America strategist: U.S. government debt increasing by $1 trillion every 100 days may be one

bank BE bitcoin By 2024-03-09 92
Bank of America strategists have recently stated that the US government's debt increases by $1 trillion every 100 days, which helps explain why assets such as gold and bitcoin are approaching historic highs. Strategists led by Michael Hartnett said that the pace of debt expansion is accelerating. They estimate that it will only take 95 days for the debt to rise from $34 trillion to $35 trillion. Bank of America said that for the market, the consequence is that trading related to "bond depreciation" has proven attractive as gold and bitcoin have recently risen.