Weekend Roundup: USD, Treasury ETFs, Oil Prices, China Economy and Ray Dalio U.S. Debt Warning – iShares 20+ Year Treasury Bond ETF (NASDAQ: TLT)

The economic and financial world has been on a rollercoaster this week. From the dollar’s status as the world’s reserve currency to the surge in oil prices, there’s a lot to catch up on. Let’s take a closer look at the headlines that are making headlines.

Scott Bessant: The dollar must remain the ‘world’s reserve currency’

President-elect Donald Trump’s Treasury picks, Scott Bessantpromising to maintain the U.S. dollar’s ​​status as the world’s reserve currency. In prepared testimony, Bessant emphasized the importance of productive investment over wasteful spending and the need to secure supply chains. He also stressed the need to use sanctions cautiously to meet national security needs.

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5% yield spurs demand for long-term Treasury ETFs

Even as bond markets continue to fall and macro uncertainty continues to rise, the lure of a 5% yield is driving investors into long-dated Treasury ETFs. Last week, the iShares 20+ Year Treasury Bond ETF TLT Inflows reached a staggering $1.5 billion.

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Oil prices top $80, hitting 6-month high

Oil prices have soared this week, with West Texas Intermediate and Light crude up about 4%, topping $80 a barrel for the first time since mid-July 2024. But oil prices still rose.

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China’s economy is expected to surpass that of the United States by 2035

Chinese economist Justin Yifu Lin reiterated his prediction from 31 years ago that China’s economy would surpass the United States’ economy in the next five to 10 years. He believes that with China’s annual gross domestic product growth sluggish, U.S. economic growth has also slowed.

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Ray Dalio warns U.S. could be ‘bankrupt’ due to soaring debt

Bridgewater Associates founder Ray Dalio has warned that the United States could go “bankrupt” due to growing government debt problems. The United States currently accounts for 34.6% of global debt, amounting to $102 trillion. Dalio’s warning comes as U.S. debt has soared to more than $36 trillion, with interest payments exceeding $892 billion in fiscal 2024.

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This story was generated using Benzinga Neuro and published by Anania Gairola