Normally, investors rush into Treasurys at a whiff of economic chaos but now they are selling them as not even the lure of higher interest payments on the bonds is getting them to buy. The freak development has experts worried that big banks, funds and traders are losing faith in America as a good place to store their money.
“The fear is the U.S. is losing its standing as the safe haven,” said George Cipolloni, a fund manager at Penn Mutual Asset Management. “Our bond market is the biggest and most stable in the world, but when you add instability, bad things can happen.”
That could be bad news for consumers in need of a loan — and for President Donald Trump, who had hoped his tariff pause earlier this week would restore confidence in the markets.
There’s a story floating around that Canada’s PM, Mark Carney, may have initiated this threat so that Trump would back off on his tariff escalation.
https://lemmy.world/post/28074536
I saw this synopsis a little bit ago and I thought it was a pretty good short description
If that’s true that’s actually comforting, not only are there smart people building defenses, but they’re able to rein trump in.
Everyone is smarter than Donald. Even the people in his cabinet are morons.
Dude is an absolute genius to go this route and the perfect person to be Trump’s foil.
If Canada doesn’t elect him, they are bigger fools than us Americans. The dude just chilli-whipped us.