Either the Fed helps Bessent on Treasuries, or this recent intervention will fall flat (and probably do more harm than good, which is often the case when an intervention is attempted but doesn’t succeed).
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Below the bond market's smooth surface, things are starting the crack as a result of the unprecedented reliance on short-term…
...the balance of risks tilted toward a rally, citing crowded bearish positioning, improving inflation data, and overstated Fed…
...for a market yet-again worrying about a hypothetical “loss of control” with US Treasury Yields...
A 5% long bond isn’t the crisis, it’s the receipt, and the fifteen years when money was free did far more damage to growth than…
...while mainstream media was busy making headlines, the argument was lost.... Druckenmiller did not forecast a debt crisis, nor…
"The Treasury can address market plumbing, but it cannot buy back geopolitical risk, inflation risk or fiscal arithmetic."
