…was debt. The first George Bush was forced, finally, to raise taxes (despite what people may have read on his lips) because the bond markets were in full-scale revolt. What…

…in capital or labor tax rates when lump-sum taxes (or transfers) are used to balance the government budget. This paper considers the consequences of bond-financed tax reductions that bring forth…

…the increase in the money supply associated with higher dollar reserves by issuing renminbi sterilization bonds (selling reminbi bonds for reminbi cash) at current exchange rates. The PBoC ends up…

…January, the yields on inflation-adjusted bonds (TIPS) have risen almost as much as yields on nominal bonds, suggesting that the rise in nominal bond yields is not primarily due to…

The 10-year bond is yielding over 4.7% this morning. That’s the highest long-term interest rate anytime in the past year: Note: 10-year interest rate expressed in tenths of a percentage…

…side, the bond-market/interest-rate/gold-also crowd on the other. Meanwhile, each month the consumer price index comes out with a relatively low reading. If the accuracy of a theory is demonstrated by…

…lines of, “the bond market doesn’t expect inflation but the gold market does.” But this makes no sense. Markets are fully integrated, and there’s no reason why somebody with a…

…it is likely that low long-term interest rates (at least relative to short-term rates) are the result of some pretty pessimistic thinking on the part of bond market participants. Low…

…average of 7.5% recorded over the 1960 to 2000 time period. Moreover — and here’s the kicker for the bond market — in looking out over the next few years,…

…Growth does not seem to understand is that the Trust Fund is also holding Federal bonds, which pay the same interest rate as the bonds held by the Chinese Central…