The average interest rate on Treasury debt rose to 3.4% last month, the highest since 2008.

Interest rates on US debt have more than doubled over the last 2 years.

$6.4 trillion of the debt is currently held in Treasury Bills with an average interest rate of 4.7%.

$14.4 trillion and $4.8 trillion are in Treasury notes and Treasury bonds, respectively, with an average rate of 2.8% and 3.2%.

In effect, total net interest costs hit a record annualized rate of $1.1 trillion in Q3 2024.

Truly mind-blowing numbers.