U.S. debt held by investors exceeds 100% of GDP for first time since World War II
Published . Updated .
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This report is about defense and US interest rates.
Directly affected
- No company is named in this report.
Indirectly affected
- ITA iShares U.S. Aerospace & Defense ETF+0.3% 30d
iShares U.S. Aerospace & Defense ETF: it holds defense and aerospace contractors. Linked by “war” (defense) in this story.
- XAR SPDR S&P Aerospace & Defense ETF-4.4% 30d
SPDR S&P Aerospace & Defense ETF: it holds defense and aerospace contractors. Linked by “war” (defense) in this story.
- TLT iShares 20+ Year Treasury Bond ETF-1.6% 30d
iShares 20+ Year Treasury Bond ETF: Treasury bond prices move with interest-rate expectations. Linked by “debt” (US interest rates) in this story.
- JPM JPMorgan Chase+0.2% 30d
JPMorgan Chase (national commercial banks): rate changes move lenders' margins and borrowers' demand. Linked by “debt” (US interest rates) in this story.
- BAC Bank of America-11.5% 30d
Bank of America (national commercial banks): rate changes move lenders' margins and borrowers' demand. Linked by “debt” (US interest rates) in this story.
- DHI D.R. Horton+9.1% 30d
D.R. Horton (operative builders): rate changes move lenders' margins and borrowers' demand. Linked by “debt” (US interest rates) in this story.
- SCHW The Charles Schwab
The Charles Schwab (security brokers, dealers and flotation companies): rate changes move lenders' margins and borrowers' demand. Linked by “debt” (US interest rates) in this story.
Price reaction, T-5 to T+3
| Ticker | T-5 | T-3 | T-1 | T0 | T+1 | T+2 | T+3 |
|---|---|---|---|---|---|---|---|
| ITA | -5.65% | -3.85% | base | -2.12% | +0.11% | after close | after close |
| XAR | -7.41% | -4.67% | base | -3.37% | -1.90% | after close | after close |
| TLT | -0.18% | +0.20% | base | +0.45% | +0.30% | after close | after close |
| JPM | -3.51% | -2.27% | base | -1.88% | -0.84% | after close | after close |
| BAC | -1.15% | -0.92% | base | -2.21% | -3.08% | after close | after close |
| DHI | +0.66% | +0.37% | base | -0.31% | +4.41% | after close | after close |
| SCHW | +1.25% | -0.20% | base | -1.62% | -0.83% | after close | after close |
Closing-price change versus T-1, the last close before the story. T0 to T+3 fill in after each market close. Prices: Alpaca IEX.
U.S. debt held by investors exceeds 100% of GDP for first time since World War II LIGA.net
Source: LIGA.net
Defense
| Company | When | Move | Status |
|---|---|---|---|
| BAC | that day | -2.21% | final price |
| BAC | the next day | -3.08% | final price |
| BAC | three days earlier | -0.92% | final price |
| BAC | five days earlier | -1.15% | final price |
| DHI | that day | -0.31% | final price |
| DHI | the next day | +4.41% | final price |
| DHI | three days earlier | +0.37% | final price |
| DHI | five days earlier | +0.66% | final price |
| ITA | that day | -2.12% | final price |
| ITA | the next day | +0.11% | final price |
| ITA | three days earlier | -3.85% | final price |
| ITA | five days earlier | -5.65% | final price |
| JPM | that day | -1.88% | final price |
| JPM | the next day | -0.84% | final price |
| JPM | three days earlier | -2.27% | final price |
| JPM | five days earlier | -3.51% | final price |
| SCHW | that day | -1.62% | final price |
| SCHW | the next day | -0.83% | final price |
| SCHW | three days earlier | -0.20% | final price |
| SCHW | five days earlier | +1.25% | final price |
| TLT | that day | +0.45% | final price |
| TLT | the next day | +0.30% | final price |
| TLT | three days earlier | +0.20% | final price |
| TLT | five days earlier | -0.18% | final price |
| XAR | that day | -3.37% | final price |
| XAR | the next day | -1.90% | final price |
| XAR | three days earlier | -4.67% | final price |
| XAR | five days earlier | -7.41% | final price |
Trades by members of Congress and officials in the stocks in this story
- Sen. Sheldon Whitehouse sold Jpmorgan Chase (JPM) (held by a spouse), worth $15,001 - $50,000 on 4 Sep 2026. That is 56 days before publication. Filed 1 Oct 2026. View the filing.
- Sen. Sheldon Whitehouse sold Jpmorgan Chase (JPM), worth $15,001 - $50,000 on 4 Sep 2026. That is 56 days before publication. Filed 1 Oct 2026. View the filing.
- Rep. Rohit Khanna bought Jpmorgan Chase (JPM) (held by a spouse), worth $100,001 - $250,000 on 27 Aug 2026. That is 64 days before publication. Filed 4 Sep 2026. View the filing.
- Rep. Rohit Khanna sold Bank Of America (BAC) (held by a spouse), worth $1,001 - $15,000 on 9 Sep 2026. That is 51 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Laurel Lee sold Bank Of America (BAC) (held by a spouse), worth $50,001 - $100,000 on 24 Aug 2026. That is 67 days before publication. Filed 16 Oct 2026. View the filing.
- Donald J Trump, an executive branch official, bought Horton D R (DHI), worth $15,001 - $50,000 on 17 Aug 2026. That is 74 days before publication. Filed 8 Oct 2026. View the filing.
Public disclosure filings, not a recommendation. The filing link is the source document. News use of these reports still sits under 5 U.S.C. § 13107(c).
How solid the defense case looks
12 out of 100
“U.S. debt held by investors exceeds 100% of GDP for first time since World War II” scores 12 out of 100. The score uses 1 sources.