As the clock ran out on 2019, the US Treasury Department released some pretty impressive data on domestic and foreign purchases of the US Treasuries. This data paints a bleak picture of the health of the world’s largest economy (or second largest, depending on the metric of choice).  More importantly, the trends in fiscal and monetary policies that underly this data are likely to shape the fate of the global financial markets into the first half of the 2020. Which, of course, is likely to spill over into the political risks coming with the US electoral cycle. Of deficits and…

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