...while mainstream media was busy making headlines, the argument was lost.... Druckenmiller did not forecast a debt crisis, nor pitch a trade... a credible plan on the deficit would do more for the long bond than any buyback.
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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…
...the balance of risks tilted toward a rally, citing crowded bearish positioning, improving inflation data, and overstated Fed…
Below the bond market's smooth surface, things are starting the crack as a result of the unprecedented reliance on short-term…
Risks hiding in plain sight...
...for a market yet-again worrying about a hypothetical “loss of control” with US Treasury Yields...
...as if you needed another reminder to trust no one and do your own work.
