U.S. ice dancers Madison Chock and Evan Bates secured a silver medal at the 2026 Milan Cortina Winter Olympics on Wednesday, while the U.S. national debt is projected to reach record levels by 2030, according to a recent report. Meanwhile, Big Oil is returning to global exploration outside the Americas, and the relationship between gold prices and interest rates is showing unusual behavior, according to financial analysts.
Chock and Bates, four-time Olympians, were favored to win gold but lost to a French duo by just over a point, as reported by NPR Politics. The competition spanned two days.
The U.S. national debt is on track to reach 120% of GDP by 2030, surpassing the previous record of 106% set after World War II, according to a Congressional Budget Office (CBO) report released Wednesday, as reported by Fortune. The current federal budget deficit is $1.9 trillion, with the national debt already at 101% of GDP. Fiscal watchdogs warn that such high levels of debt could be a "self-inflicted wound," according to Fortune.
In the energy sector, Big Oil is increasing global exploration outside of the Americas, a shift from recent years, as reported by Fortune. Chevron announced its return to Libya on February 11, after a 15-year absence. The industry had previously focused on the U.S. shale boom and proven offshore basins.
Financial markets are also showing unusual patterns. The inverse correlation between gold prices and real interest rates has broken down, according to Apollo chief economist Torsten Slok, as reported by Fortune. Slok noted that when the Federal Reserve began raising interest rates in 2022, the strong correlation between gold and real rates disappeared. Gold is traditionally considered a safe-haven asset.
In other news, Venezuelan opposition leader Jesús Armas was recently released from detention, as reported by NPR. Armas, who was held at a notorious detention center, spoke about feeling "hope" after his release.
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