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Open original source ↗Trump has damaged the US dollar’s “exorbitant privilege” more in a week than any US policy since 1971. And with very large twin fiscal and current account deficits the US still relies on the kindness of strangers (the so called “bad hombres” as he is insulting friends and allies more than foes) to finance its unsustainable domestic and external imbalances. Mar-a-Lago wishful thinking redux…
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Here is my nomination for the most interesting chart of the week. * Arguably, the stock market crashed this week * JP Morgan is saying 60% probability of a recession * Record uncertainty * Unprecedented Government policy on tariffs. So, given the list above, what is 10-year yield signaling that is still 40 bps higher than its September low?
biancoresearch ↗