So what would Yellen do?
A toxic trifecta for bondholders.
Even in “rich countries,” more and more people “are no longer willing to tolerate the status quo.”
Circular firing squad? But bank stocks have soared for three months.
It blames the Fed & Bernanke; the dark side of “healing” the housing market.
Worse than the 1994 “Bond Massacre,” with “sustained double-digit losses on bonds, subpar growth in developed markets, and balance sheet risks for banking systems….”
A myth gets destroyed by facts.
Over the last ten days, markets have been jinxed, and nearly everything changed direction.
“The budget of many prospective buyers last month was dealt an abrupt hit”
To cover a capital shortfall of €50 billion.