Has the Federal Reserve fallen victim to bond market bullies?
“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.