Debt Maturity © IMF

News comments:
The UK isn't all stupid.

As can be seen, the UK prefers to issue long dated gilts and is in the strong position of not having to refinance in uncertain markets unlike the USA which is keeping rates low because it has some serious debt issuance in the near term.

Cloud cuckoo land Obama is dreaming that the USA will knock off trillions of the US debt over the next 12 years. Good luck is all I can say. Obama wants to put up taxes in a country where the tax rates are pretty high already. He wants to cut spending but not on anything that will impact his 2nd term in office so is pushing out the difficult decisions to the next President. (bloomberg)

Today's shorts:
Shorting DB out pigged (bloomberg)

Guilty til proven innocent regulators set up Minority Report unit (bloomberg)

Today's longs:
Google to help students pay off loans (telegraph)

Gossip:
Obama hypnotises the American people into believing he will make their lives better.