Loading ...is that the Fed is losing and has been losing control of the Bond Market for some time now. Our rates should be similar to those in the ECB, but it appears we have foreign countries dumping our treasuries – rightly so. IMHO, we’ll also see them dumping dollars as a consequence.
I suppose Powell and the Fed could try to go negative, but if the foreigners are doing a wholesale dump of our bonds, I’m not sure that will help them prevent rates from rising unless they are willing to step in and buy even trillions more in UST’s.
Regardless, gold is no one else’s liability as Trump always used to say, same with silver. What do we want to hold?