1.The US national debt is approaching record levels as a share of Gross Domestic Product (GDP) and currently stands at 100% of GDP, while interest costs are surging to new records and budget deficits remain elevated at around 6% of GDP. Does that situation worry you in terms of investment allocations?

Yes

No

2.Over the next 10 years, how likely do you believe each of the following US fiscal-stress scenarios is?

Very unlikely

Unlikely

Possible

Likely

Very likely

Sharp rise in treasury yields driven by loss of investor confidence

Very unlikely

Unlikely

Possible

Likely

Very likely

Sustained inflation due to fiscal dominance

Very unlikely

Unlikely

Possible

Likely

Very likely

Significant USD depreciation linked to fiscal stress

Very unlikely

Unlikely

Possible

Likely

Very likely

Technical default or payment disruption

Very unlikely

Unlikely

Possible

Likely

Very likely

Gradual erosion of living standards and fiscal and monetary flexibility, potentially causing as much or more long-term damage than an acute crisis.

Very unlikely

Unlikely

Possible

Likely

Very likely

Return of stagflation via falling growth and sustained inflation

Very unlikely

Unlikely

Possible

Likely

Very likely

3.To what extent do you agree with the following statement: “U.S. Treasuries will remain the dominant global safe-haven asset even under significant fiscal stress.”

Strongly disagree

Disagree

Agree

Strongly agree

Strongly disagree

Disagree

Agree

Strongly agree

4.Has your organization recently (in the last 6 months) adjusted investment strategy in response to long-term US fiscal risks?

Yes, materially

Yes, modestly

Discussed but not implemented

No, but might consider in the future

No, and never will

Unsure

5.Any comments:

6.You work at:

Insurer

Asset manager

Consultancy

Other (please specify)

7.Which country are you based in:

8.If you are happy to discuss your answers on or off the record, leave your contact details here: