"Skyrocketing US Debt Interest Hits Record $1 Trillion Annually"

The annualized interest payments on the US government debt have surpassed $1 trillion, doubling in the past 19 months and equivalent to 15.9% of the entire Federal budget for fiscal year 2022. This increase in debt repayment may lead to renewed selling pressure on US Treasuries and has already driven up bond yields. The worsening metrics highlight concerns about the US fiscal path and the need for increased Treasury coupon auctions and refinancing of climbing maturities.