The average American won’t care about yields until it’s far too late. In fact, most don’t even know what yields are.
This platform attracts more informed people, so it can become an echo chamber. Walk outside and you’ll see that all people care about is NFL and pumpkin spice lattes coming back.
We are headed for a massive crisis akin to 1929, and 99% of people are completely unprepared.
The worst part of this depression era will be the sheer shock when people realize how much of a luxury it was to walk into a store and find your favorite items, have functioning internet and utilities, access credit easily, and worry about weekend plans instead of where your next meal is coming from.
Scarcity will be the defining characteristic of the next decade.
Unbelievable.
3 hours later and the 10Y Note Yield is now above 5.20% for the first time in 19 years.
The 10Y Note Yield is now up +50 basis points in 30 days and +30 basis points in 2 days.
Even more remarkable is that the average American has no idea this is happening. Yet.
The bond market is imploding in front of our eyes.