Schiff vs. Gammon: US Treasuries are Turning Toxic - SchiffGold.com
Schiff vs. Gammon: US Treasuries are Turning Toxic - SchiffGold.com
Source: SchiffGold.com
―
DW NOTE
Peter Schiff and Luke Gromen have spent years warning that Treasury yields would spike when the rest of the world stopped financing US deficits. The 10-year at 4.97% — up 22.7% in a year — with the Fed about to hike into a supply shock suggests they were right about the mechanism, even if the timing was anyone's guess. When your central bank raises rates while your government runs $1.2 trillion deficits and foreign buyers go on strike, bonds don't stay safe-haven assets for long.