Global bond rout sends long-term borrowing costs to multiyear highs
financeAug 18, 202615314
Jesse Felder
@jessefelder.com
'When you have a lot of debt and run unsustainably large budget deficits, you’re extremely vulnerable to any old shock that comes along. It’s not about the shock, but - instead - the mess we are making of fiscal policy on a global scale.' robinjbrooks.substack.com/p/global-bon...
14411h ago
It’s hard to come up with an aspect of life Republicans aren’t doing this to.
Would the Congress even be able to put together a TARP like program today if they wanted to ?
A bit like running a household or say a business that is underwater with debt, an unexpected expense will bring down the house of cards.
The bond market is daring the Fed to raise rates and Fed has no desire to do anything because of the optics. We are so f’n cooked.