4 ms·
The strong interpretation of GP was not having "the debt" refer to "the batch of securities providing the current proceeds of the debt" but instead "the outstan
by zamadatix 2y ago
The strong interpretation of GP was not having "the debt" refer to "the batch of securities providing the current proceeds of the debt" but instead "the outstanding balance owed". Conflating refinancing the debt balance with repayment of the debt only adds confusion to the conversation.
- deleted 2y ago[deleted]
- TeaBrain 2y agoYou seem to be under some misled notion that there is a conception of an outstanding sovereign debt balance separate from the securities. The aggregate outstanding balance is wholly constructed of debt securities. This is literally what the debt balance is referring to. The debt securities do not just exist to pay interest on the debt, but represent the debt themselves. The so-called outstanding balance is an aggregation of the principal of all of the levels of separately maturing securities.