US Debt Maturity Profile AKA, When do we pay for this?
This is an update to the graph I made in March, using the February data. I kept the February data and added May’s data as well as data from a year ago.
We are financing a large amount of debt with a very short duration. We are trying to push some of the debt out further, and this week we’ll auction $104 billion spread between the 2, 5, and 7 year maturities. We haven’t had a lot of luck with the 10 year recently, and I wouldn’t expect much improvement. With our current fiscal policy, we need to issue much more debt. So long as there is demand for this debt, it isn’t much of a problem. However, if (when?) the music stops, there might be a few hundred billion too few chairs to go around.
