“Investors view Treasuries (UST) historically as risk-free or near-cash assets i.e., assets that retain their value and can be easily sold during both normal and stressed market periods. Unsurprisingly then, Treasuries have tended to be viewed as safe havens for investors during market crises.
“If there is reincarnation, I would like to come back as the bond market. You can intimidate everybody.” James Carville, Bill Clinton’s political adviser.
As only the bond market can, a push-back to tariffs has started, causing US President Donald Trump to blink.
