1.   An agreement is expected to send bond yields lower by curbing the supply of securities the Treasury sells to finance annual deficits.

2.   The government borrowed from the banks about four-fifths of these deposits, to finance its deficit.

3.   Whenever the government runs a budget deficit, it will have to finance that deficit by borrowing.

4.   Eurodollar deposits, on lent, became the means by which the OPEC surpluses were re-cycled back to deficit countries to enable such deficits to be financed.

5.   In effect, the Bank of England has to finance the deficit by providing foreign currencies in exchange for domestic currency.

6.   Also, if governments borrow less money to finance deficits, the supply of public debt will shrink as a share of GDP.

7.   An agreement would send bond yields lower by curbing the supply of securities the Treasury sells to finance annual deficits.

8.   After defaulting on its domestic debt, the Kremlin can no longer finance its deficit by selling Treasury bills.