The 10 Year Yield is now above 2.9% ... From an EW perspective, it looks like Minuette wave (iv) is over. The Fed is walking a fine line. The National debt is too high and interest costs will cripple the country at normal rates like 5%. But China and Russia and even Japan are not buying treasuries and won’t unless and until interest rates are overwhelmingly attractive.
We are in end stages of a crack-up boom.
So IF everyone is selling Bonds who's gone buy ? If US debt interest costs soar while tax receipts fall and foreigners exit $ assets, US becomes insolvent or Fed buys everything. Short Bond
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