Half are crowing that the Fed has lost all control and we're in for a Great Depression, a couple have noticed that the heads of the top backs announced that effective immediately they were going to cease their share buy-backs and start lending.
Little noticed is that Mnuchin and Trump suggested restructuring the entire 22 T Federal deficit into 100-year bonds at 1%.
Thinking out loud and not investment advice...
Yes they have been hinting at this for a while. In some ways I think this might be worse than what Obama did twisting the yield curve. You can't build a Bond Ladder with a yield curve like this, who in their right mind would go long on Treasuries unless it is a pure flight to safety scenario? At the same time the Obama years taught us You don't fight the FED...
So, like in the Obama years, does this drive Seniors to Blue Chips Dividends yielders and Utilities because their is no place else to go for yield?
I don't say this as a novice, to sit at a desk after taking the notes in the meeting and being tasked with building said bond ladder for a client back when we had a normal yield curve with GWB and seeing what it could do for a newly retired client and the positive impression it made, has me scratching my head a this move.
I've always wondered if at some point there would be an agreement amongst nations to "reset" the global debt. There really is zero chance it will ever be paid down as far too many nations are hooked on debt like an addict.