Actually, it’s probably much worse.
Because a decent chunk of our T-bills are now short-term instead of long term. There appears to be a lot of “waiting and watching” going on by those buying our debt.
Seems to me they are waiting for the inevitable spike in interest rates and that will throw all the numbers off.
Gonna be ugly...
“Because a decent chunk of our T-bills are now short-term instead of long term. There appears to be a lot of “waiting and watching” going on by those buying our debt.”
That’s all I’m holding. Anyone holding long term t bills right now is a fool. Interest rates are going up up up. When they do, the price of long term t bills goes down down down.