Difficult to overstate how significant this could be for the US. Watch the recent experience of the UK for examples. Or the experience of any of a number of d

Difficult to overstate how significant this could be for the US. Watch the recent experience of the UK for examples. Or the experience of any of a number of developing markets. Democrat or Republican any administration’s first priority is keeping the bond market happy. Has not been an issue for a long time but if it becomes one… damn. You don’t have to like it. You can think it’s incompatible with your view of democracy or gives too much power to banks or finance or whatever (fyi it has nothing to do with that!) but it is going to be a giant, giant problem if demand for treasuries is significantly negatively impacted.