Weekly Market Recap – October 12, 2026

The federal fiscal year ended last month, and while we’re still awaiting official figures from the Treasury, the CBO estimates that the U.S. ran a budget deficit of roughly $1.993 trillion in FY2026. That adds to a national debt burden that has climbed rapidly since the start of the century and now stands above $40 trillion, which has become a major concern for fixed income investors.