Here Comes The Yield Shock—The Beltway Borrowers Are Going Berserk

You can say this for the swamp creatures: Their gall knows no limits.

Apparently, the two government lifers running the US Senate—-Mitch McConnell and Chuck Schumer (hereafter “Mitchels & Chuckles”)—-have reached a deal to bust the already red-ink soaked budget by $400 billion over the next two years and by upwards of $3.5 trillion over a decade. Consequently, bond yields have continued their upward march.