Stockman: The mother of all yield shocks

We are making our way across Europe today just as the mother of all yield shocks we have been warning about begins to have its way with the clueless boys and girls and robo-machines in the casino. 

 The US dollar bond pits alone will soon be shocked with $1.8 trillion of homeless government debt as the US Treasury issues $1.2 trillion of new paper and the Fed dumps $600 billion of old debt during the fiscal year that incepted three days ago.

 David Stockman, October 4th, 2018

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