“A baseline assumption in asset allocation, regulatory policy and international finance has long been that U.S. Treasury securities are risk-free assets that offer protection against the vagaries of economic fortune. It may no longer be valid,” Axios reports.
“That’s the cold reality that lurks beneath the rise in longer-term bond yields in recent weeks that triggered a Treasury Department intervention.”
“It implies a world where the U.S. government can’t count on favorable borrowing conditions as a matter of course.”
The Guardian: The treasury bond mess: is this the demise of the U.S. as a safe haven?
