Trump in the present day
No one cares concerning the deficit.
Today, Trump is on Capitol Hill talking with Republicans and attempting to push ahead his finances invoice. Yet he singled out one single Republican holdout: Thomas Massie and known as for him to be voted out of workplace.
Massie’s sin? He needs to see actual deficit discount.
Several different studies mentioned that within the assembly, Trump instructed Republicans: “don’t f*ck around with Medicaid”
Previously, that had been the lever to tug for no less than some offsets to the deficit. I believe that remark has pushed up yields and — particularly — gold.
Now Moody’s downgrade definitely wasn’t forward of the curve or telling us something we do not already know nevertheless it was a possibility to rally the deficit hawks and alter course, or no less than nudge it in a more-responsible course. Instead, it is full-steam forward on endlessly deficits with no credible path in direction of enchancment.
US 30-year yields bounced off 5% yesterday however are actually up 3 bps to 4.97% in the present day.
US 30 yields
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