The US government, like in many other countries, has a significant amount of debt outstanding. This debt is financed for the majority through the issuance of Treasury securities, which include Treasury bills (short-term), Treasury notes (medium-term), and Treasury bonds (long-term), and these securities serve as key instruments in financial markets. The investors include individuals, corporations, pension funds, the Federal Reserve, and other governments. Broadly, this is referred to the debt held by the public.

There are decades where nothing happens and weeks where decades happen. This quote by Lenin seems appropriate for what happened last week. The Trump team won by a landslide and has taken the House, the Senate, and the Presidency.

As markets anticipate turning of the positive stock-bond correlation, our expert analysis covers the main opportunities that will affect multi-asset portfolios in the coming year.