The GOP’s Fiscal Surrender—-Why A “Yield Shock” Is Baked Into The Cake

The US Treasury is fixing to sell the staggering sum of $294 billion in bills, notes and bonds this week, and it’s a holiday shortened week at that. So you’d think the bond market would be choking at least a tad on this tsunami of paper, but in fact yields on the 10-year UST have dropped by 20 basis […]