After U.S. debt soared to $38 trillion, the ‘easy times’ are now over as hedge funds jump into the bond market, former Treasury official warns
via nytimes.com
Short excerpt below. Read at the original source.
The holders of U.S. debt have shifted drastically over the past decade, tilting more toward profit-driven private investors and away from foreign governments that are less sensitive to prices. That threatens to turn the U.S. financial system more fragile in times of market stress, according to Geng Ngarmboonanant, a managing director at JPMorgan and former […]