From Izabella's The Blind Spot:
Spot Markets Live Transcript, 27/10/23 (YCC US edition, Geopolitical risk premium and Fungi)
....Izabella Kaminska
But back to US GDP. Janet Yellen for one made an astounding comment vis a vis this yesterday. Bloomberg had the headline as
Yellen Says Yield Surge Is Due to Strong Economy, Not Deficits
The actual quotes were:
“I don’t think much of that is connected” to the US budget deficit, Yellen said at an event in Bloomberg’s Washington office Thursday. “We’re seeing yields go up in most advanced countries.”
The increase in yields — which has taken benchmark Treasury rates to the highest levels since before the global financial crisis — is instead “largely a reflection of the resilience people are seeing in the economy,” she said.
“The economy is continuing to show tremendous robustness and that suggests that interest rates are likely to stay higher for longer,” she said.
So what do you reckon Julian? Stunning success show? Or Potemkin Village?....
*****
....Izabella Kaminska
For the avoidance of any doubt. I’m going to repeat this very loudly and to the point.
Julian Rimmertype slowly because i cant read fast
Izabella KaminskaWhat we are looking at here is the likely initiation of US YIELD CURVE CONTROL policy.
Got it?
Here’s the key passage....
....MUCH MUCH MORE, including the Holiday before The Day of The Dead, BwaHaHaHa
(AKA Día de los Muertos); Also All Saints Day
