Eurointelligence: “What occurred is that the bond markets had turn out to be dysfunctional as traders suffered heavy losses from the crash in fairness markets, and wanted to liquidate positions by promoting bonds. The US treasury market is the world’s single most vital monetary market.”

“It was not the bond market vigilantes that drove up bond yields over considerations about authorities coverage. Quite the opposite, bond yields had been heading downwards in robust anticipation of a tariff-induced recession… The extent of 10-year yields isn’t, and was by no means the problem. It was the functioning of the market itself. The bond market vigilantes may be extra harmful when they’re sick than when they’re combating.”

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