Why is anyone surprised that US Tsry yields are at 5%? The current administration has been doing everything to double the rate! The Moodys downgrade was a gentle tap on the wrist. Not a rebuke at all. But it's served to get bond investors to finally see reality. The Big Beautiful Bill will tank the economy. Coming close on the heels of the tariff disaster, it just confirms that this administration is full of loony toons and a supine bunch of republicans just looking to survive.
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