Financial Times/Kate Duguid, Adam Samson and Colby Smith/9-27-2022
“The $24tn US Treasury market has been hit with its most severe bout of turbulence since the coronavirus crisis, underscoring how big swings in international bonds and currencies and jitters over US rate rises have spooked investors.”
USAGOLD note: If you are a regular visitor here, you know that we’ve been worried about the Fed’s removal of support for the bond market for a very long time – almost from the time quantitative tightening was first contemplated. Now, those chickens are coming home to roost as the Fed digs in, rates rise, liquidity dries up, and volatility surges.
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