RE:RE:Never a dull moment Excerpt:
I remain wedded to the view that as the campaign heats up and policies get announced, we will realize that large annual budget deficits are on the horizon regardless of who wins. The amount of debt that needs to be issued, with a “cavalier” attitude towards debt creation, is going to continue to grow. The Fed will control the front end, but I expect the market will respond by re-installing some element of term premium.