Legendary US political operative James Carville once quipped: “I used to think that if there was reincarnation, I wanted to come back as the president or the Pope or as a 400 baseball hitter. But now I would like to come back as the bond market. You can intimidate everybody.”The global bond market has certainly been making its presence known in recent weeks. Yields on long-term government bonds have been rising in major economies around the world over the past fortnight.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
Bond market has silenced the MMT crowd. Good.
As we witness the relentless rise of populist politics we need to remain vigilant about Modern Monetary Theory, which can do tremendous damage.
102 words~1 min read
