Has the Federal Reserve fallen victim to bond market bullies?

Financial Times/Robin Wigglesworth/7-12-2019

“The bond market ‘vigilantes’ of old used to bully wastrel governments. Now they appear to have moved on to a grander target — the US Federal Reserve.”

USAGOLD note:  Will the Fed lead, follow or get out of the way?  The bond market has made its decision – the beneficiary of investor flight to safe haven, at least for now.  As the press has reported extensively over the past few weeks, gold is also a beneficiary of the flight to safety.

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