Will the US Stocks have to crash???

February 6, 2025 >> Macro Investors

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Dear all,

Every so often, I come across a chart that stops me in my tracks.

The one you see below is one of those.

It’s not just the sheer magnitude of the numbers - over $10 trillion in U.S. debt maturing by 2025, followed by another $4 trillion shortly after - but the story it tells about what’s ahead for markets.

These are the kinds of moments that define investment strategies and, often, separate those who react from those who anticipate.

The U.S. government will soon be rolling over debt equivalent to almost 40% of its GDP.

This isn’t just a financial exercise; it’s a test of the bond market’s capacity, the Fed’s resolve, and the resilience of equities.