Gold Demand Tracks Bond Market Doubts About U.S. Fiscal Sustainability - StoneX
Gold Demand Tracks Bond Market Doubts About U.S. Fiscal Sustainability - StoneX
Source: StoneX
―
DW NOTE
StoneX watches gold fall 21.7% from its January high while 10-year yields climb to 5.24% and correctly deduces that the bond market has stopped pretending the U.S. can service its debts without debasement. The federal deficit ran $1.4 trillion through June — 3% higher than last year — and markets are pricing monetary tightening into a fiscal blowout, which is either brave or delusional.