, Columnist
Bond-Yield Breakout Is Much More Than Inflation
Another edifice of the post-Volcker era of stability is cracking.
Check out those yields.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
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Score another win for the Ragin’ Cajun. James Carville, Bill Clinton’s political mastermind, is now 80 and has recently been in the news for a piece telling the Democrats that it’s still “the economy, stupid.” Donald Trump and the Republicans should note another of his most famous aphorisms — that he would love to come back as the bond market, because it can intimidate people. The Treasury market is looking intimidating again, and politicians should take notice, as should everyone else.