Trump Blinks as Big, Bad Bond Market Bares its Teeth: McGeever - EnergyNow.com
Trump Blinks as Big, Bad Bond Market Bares its Teeth: McGeever - EnergyNow.com
Source: EnergyNow.com
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DW NOTE
The 10-year yield hit 5% with inflation at 3.4% headline and producer prices at 5.4%. A real bond vigilante moment would have yields at 7%. What Trump is hearing is not the market baring its teeth — it's the market politely clearing its throat while the Fed still holds rates a full point below the 10-year. Call it when bondholders actually refuse to finance the deficit at these levels.