The Globe and Mail reports in its Tuesday edition that despite concerns about America's fiscal deficit, public debt and a declining dollar, the Treasury market remains stable. A Reuters dispatch to The Globe reports that public debt levels are likely to persist regardless of President Donald Trump's upcoming budget proposal, but the bond market seems to be holding steady. U.S. 10-year borrowing rates have remained steady for nearly two years. Bond market volatility is around long-term averages and exchange-traded funds tracking Treasuries have shown little change this year. The impact has been felt by the U.S. dollar and unhedged foreign investors. Fiscal scare stories are prevalent in politics and economics. Recently, former Bank of England policy-maker Willem Buiter and professor Anne Sibert warned that the lack of fiscal control in U.S. Congress may lead the Federal Reserve to monetize debt, risking a default. They concluded that this could trigger another wave of inflation. Many are raising concerns about a full employment economy with a primary budget deficit exceeding 3 per cent of GDP. If this continues, the U.S. debt-to-GDP ratio could reach 525 per cent by the century's end, having already surpassed 100 per cent.