Bessent Doubles Yellen’s Hocus-Pocus Treasury Buybacks, Swapping Old Cheap Debt at a Discount for New Expensive Debt
· wolfstreet.com
Bessent Doubles Yellen’s Hocus-Pocus Treasury Buybacks, Swapping Old Cheap Debt at a Discount for New Expensive Debt
Hocus pocus works with the bond market only briefly. His last hocus-pocus, the big kahuna US-Japan joint intervention, fizzled in days and bond yields marched h...