Loading ...Re the 30 yr auction….for decades now there has been talk of a debt bomb going off, where no-one will buy Treasury debt and for all that time it has never yet happened…..but look at rates on a quarterly chart and there is no doubt that the 40 yr down move is over….for the rest of most of our lives rates will be hard and rising.
and in a woke world where hard knocks are verboten, the painfull and correct answer cannot be allowed, so the easy option of inflating away the debt will happen, which means PM’s will have a constant overall bid……certainly for the next decade.
The action in the Bond mkt, is a major tell.