Goldman’s Waldron Says Bond Traders Fear Debt More Than Tariffs
John Waldron, president and chief operating officer of Goldman Sachs Group Inc., in Washington, DC, in 2024.
Photographer: Samuel Corum/BloombergBond traders are becoming increasingly spooked by mounting levels of US government debt — and it’s now a concern that holds more risk than tariffs, according to Goldman Sachs Group Inc.’s president.
“While all the attention was on tariffs, I think the attention rightly is shifting — certainly in the bond market — to the US budget debate and the fiscal picture, which I would characterize as somewhat concerning,” John Waldron said at a Bernstein conference Thursday. “I think the big risk on the macro right now is actually not so much tariffs.”