Long-Term Bond Yields Dive, Gold Soars as Treasury Manipulates Bond Yields
What market manipulation is next? Diesel crack spreads?
Source: Mish Talk
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DW NOTE
The Treasury cannot manipulate the long end of the curve without printing reserves to buy the bonds. If yields are falling while fiscal deficits run at 6% of GDP and the Fed holds rates unchanged, that is not manipulation — it is flight capital pricing in a recession faster than Washington can admit one is coming.