from King World News
More “transitory” inflation is on the way. Look at what is skyrocketing…
Debts & Deficits Matter
June 20 (King World News) – Peter Boockvar: With the Congressional Budget Office raising its fiscal 2024 deficit estimate to almost $2 trillion I believe we are sooner rather than later going to resolve the debate over whether ever rising debts and deficits matter for the direction of borrowing costs. The danger though now is that part of the rising estimates is due to higher interest rates. I get the question all the time as to when will DC care which would result in some action to slow the pace of rising debts and deficits and my only answer is when the bond market forces them to and I’ll define that as a 6% 10 yr note yield. That would create some shock to the system I’m guessing that could create some crisis where something might get done.