Each time interest rates have surged up to their long-term trendline, a ‘crisis’ has occurred. Is this time really different because rates are “going up for the right reason” or is this narrative just one more bullshit line from a desperate industry of asset-gatherers and commission-takers?
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Humm – the reaction in markets each time the yield on the 10-Year Treasury yield reaches its trendline is ominous so the question is – Have interest rates ‘ever’ gone up for the right reason? or is this narrative just one more bullshit line from a desperate industry of asset-gatherers and commission-takers?
It does make one wonder what the relationship between US government ‘interest costs’ and global money flow really is. Does an engineered equity tumble spark safe-haven-buying and ease the pain as deficits and debt loads soar? It would certainly help as $300bn additional budget deals are passed, The Fed has left the game, and China is threatening to be a seller not a buyer.