Trump Blinks as Big, Bad Bond Market Bares its Teeth: McGeever - EnergyNow
Trump Blinks as Big, Bad Bond Market Bares its Teeth: McGeever - EnergyNow
Source: EnergyNow
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DW NOTE
The bond market forced Trump to shelve his tariff expansion and scale back his infrastructure plans in the span of a week. When 10-year yields hit 4.95% and primary dealers started refusing Treasury auctions at acceptable rates, the White House discovered that campaign promises cost more than campaign rallies. The Fed meets Wednesday with a 90% probability of hiking into a supply shock — because the alternative is watching the dollar's reserve status erode in real time.