BlueBay Chief Information Officer Mark Dowding said in a report that concerns about long-term bond yields will persist as the U.S. budget is expected to be finalized within the next month before Congress adjourns. In the coming weeks, pressure to reach a deal means compromise within the Republican Party. Even with tariff revenues of $250-$300 billion, the fiscal deficit will remain around 7% of GDP. "Concerns about rising U.S. debt levels are unlikely to ease in the short term." BlueBay believes that the Trump administration will not pursue tax increases or substantial spending cuts, and that the only possibility of reducing the deficit lies in a significant drop in borrowing costs.