Can you give any explanation as to why they rose in the first place? I know you're an economist, and not a psychologist (and the more I dabble in stocks, the more it seems to be the latter and not the former), but was there some other reason besides blind, stupid hope?
No one wants US debt. Yields ripped today when they should be coming down. Canary in a coal mine? Wouldn’t surprise me if the Chinese are dumping US debt to take away what Trump wants, lower yields. Trump has a pair of two’s. He has lost.
China doesn't hold very much US debt. When people talk about China owning an enormous amount of US debt, they're lying by omission by not saying that they're only talking about foreign held debt. I think in absolute terms, they own like 2%, which definitely isn't nothing, but isn't close to majority
Like seriously, they can’t keep this up. Am I crazy for thinking this madness won’t last to the end of the week? Is Trump and company really that insulated from reality?
No kidding. I spent the last couple of days browsing financial forums. The vast majority of them were people talking about this being a minor correction and at least a few of them were banning people stating the obvious.
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