"Treasury yields aren’t hard to calculate. But they are still my favorite indicators of the scale of the current crisis. The fact that so many are willing to lend so much to the US Treasury for so little is a clear indicator of a lack of confidence in other financial asset(s)."
Takes a minute or so to understand, but like the pinpoint of light that suddenly resolves itself as an onrushing train, the news ain't good. At all.
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