Jamie Coutts says U.S. public debt growth is outpacing global liquidity, shifting the debate from a debt maturity wall to tighter competition for capital. Over

Jamie Coutts says U.S. public debt growth is outpacing global liquidity, shifting the debate from a debt maturity wall to tighter competition for capital. Over five years, debt rose 6.8% a year versus 2.2% for global liquidity; net liquidity fell 3%.