The Treasury Bond Bubble

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Will MMT Work And Can the US Fed Control the US Treasury Bond Market?

 

We have long-standing concerns about the US Treasury market. Bonds are in bubble territory and look vulnerable to the use of MMT and the absence of an effective YCC. 10-year Treasury yields could get forced upwards towards 2% given the scale of the economic rebound and the whopping size of Treasury issuance.

 

 

 

See our latest published research, Global View - Will MMT Work And Can the US Fed Control the US Treasury Bond Market? - August 2020

 

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