The $39 trillion national debt could break the all-important U.S. bond market, sparking a ‘vicious’ emergency, former Treasury secretary warns
- Posted on April 17, 2026
- By Fortune
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- 1 min read
The $39 trillion national debt could break the all-important U.S. bond market, sparking a ‘vicious’ emergency, former Treasury secretary warns

How a collapse in bond demand could trigger a 'vicious' fiscal crisis.