This Week in Review | US Debt, Global Bond Yields, US-Canada Trade (Aug. 21, 2026)

The economy and markets can feel dizzying and ever changing. That’s where we can help. Fisher Investments’ “This Week in Review” is a weekly segment designed to highlight a few things you may have missed this week, what they could mean for financial markets and why they matter to investors like you. This week, Fisher Investments reviews:

• US debt reaching $40 trillion

• Rising global bond yields

• US-Canada trade negotiations

Below are the sources for all data cited in today’s show:

1. Source: U.S. Department of the Treasury, as of 8/20/2026. Debt to the Penny, 8/19/2026.

2. Source: Treasury Direct, as of 8/21/2026. Recent Auction Results.

3. Source: Office of Management and Budget, as of 8/21/2026. Fiscal Year Federal Interest Outlays as a Percent of Annual Federal Tax Receipts from 1940 - 2025.

4. Source: Federal Reserve Bank of St. Louis, as of 8/20/2026. Market Yield on U.S. Treasury Securities at 30-Year Constant Maturity, Quoted on an Investment Basis (DGS30), 8/19/2026.

5. Source: Macrobond, as of 8/21/2026. Japan, Germany, France and UK 10-year government bond yields, monthly, January 2026 - July 2026.

6. Source: Macrobond, FactSet, as of 7/24/2026. ICE BofA US Corporate spreads, daily, 1/1/2000 - 7/23/2026.

7. Source: AP, as of 8/20/2026. “US, Canada Hold Last-Minute Talks to Stop 50% US Tariffs,” 8/18/2026.