Weekly Research Briefing: Escalate or De-escalate
As James Carville once reminded us, the bond market "can intimidate everybody." So with Friday's upward move in interest rates pushing all maturities on the curve toward a +50bp increase over three weeks, the cost of the Gulf War was just too much for the White House. Complicating the picture was the jump in gasoline, diesel and fertilizer price increases and their negative impact on consumers, businesses and farmers.
