🚨 THE U.S. BOND MARKET IS STARTING TO LOOK SERIOUSLY BROKEN.
The 30-year yield crashed from 5.337% to 5.18% after Treasury announced it would double long-term bond buybacks.
Just 48 hours later, it is already back above 5.27%.
The U.S. is stuck between surging borrowing costs and a bond market that increasingly needs support.
If yields keep pushing higher, Treasury faces an ugly choice: tolerate higher borrowing costs or provide even more support to the bond market.
This is the same kind of pressure we’ve been watching build in Japan.
Except now it’s happening in the world’s biggest bond market.