The U.S. national debt just surpassed $28 trillion.
— Spencer Schiff (@SpencerKSchiff) March 2, 2021
Treasury yields jump https://t.co/NePSIx8Rj0 pic.twitter.com/0BGf1pl8UY
— Bloomberg Markets (@markets) March 3, 2021
Drivers of the US bond market sell-off: (i) large fiscal stimulus timed to coincide with reopening of the US economy, making for a super-charged recovery; (ii) fiscal deficits (black) far above projected Fed QE buying (blue). Higher yields are a way to close that funding gap… pic.twitter.com/mmEzbfduhg
— Robin Brooks (@RobinBrooksIIF) March 3, 2021
Bitcoin > 52,000
— zerohedge (@zerohedge) March 3, 2021
US 5y inflation expectations hit highest in decade while 10y & 30y breakeven rates, which measure investors' inflation expectations over those time horizons, have been capped in recently. Meaning investors fear strong surge in inflation in middle of 2020s. https://t.co/yTyeIyXgN1 pic.twitter.com/zXdBdgE5AR
— Holger Zschaepitz (@Schuldensuehner) March 3, 2021
Related:
A small reduction in ECB bond purchases and yields rise significantly.
Shows how challenged the sovereign bond market would be in Europe if ECB stepped down. pic.twitter.com/1fqVyvOuP4
— Daniel Lacalle (@dlacalle_IA) March 3, 2021