The Congressional Budget Office reported that the deficit picture has improved. Moody's Analytics noted that the fiscal drag on the economy has worsened. The cost to insure $10 million of U.S. debt against default through credit default swaps has soared to over 200,000 euros according to CMA.

1. Source: CBO
Deficit Picture Improves
In bn

2. Fiscal Drag Worsens
Source: Moody’s Analytics
%age points

3. Note: Annual cost of derivatives used to hedge $10mm of U.S. debt against default
Source: CMA
Cost to Insure U.S. Debt Soars
‘000 Euros