Investors are selling off bonds from the U.S. government, as part of a trade known as “Sell America.”

The United States government has had to pay more to borrow in the global debt markets. On Wednesday, the Treasury department found that there was tepid demand for an auction for $20 billion worth of bonds, and ended up paying a slightly higher interest rate (or yield) than expected.

This has spooked markets. Yields on 30-year U.S. Treasuries have spiked above 5% this week — an unusual, and unsettling, surge in the price that the U.S. government pays on its long-term debt. An increase in bond yields is particularly damaging to the economy because it jacks up the interest rates on many things that consumers pay, such as on mortgages and other loans.

  • skuzz@discuss.tchncs.de
    49·
    2 days ago

    Did some research a while back.

    Mango Mussolini failed businesses:

    • At least four failed building ventures
    • Had a failed “university”
    • Failed vodka business (how hard is that, right?)
    • Failed steak business
    • Failed airline
    • Failed board game
    • Failed casinos in Atlantic City (how do you fail at running multiple businesses that only exist to hoover up money?)
    • Failed magazine
    • Failed luxury travel organization
    • Failed mortgage company
    • Failed presidency that took Pres. Biden’s administration most of their entire term to fix. We’re talking documents that are gone, departments that are deleted, abject chaos that had to be rebuilt from scratch in some cases.

    Successes:

    • Had mommy’s money to get him going
    • Had 5 successful buildings built, mostly in the 1980s
      • At least three of them had fraudulent financial statements, inflated valuations, and inflated tax losses
    • Lemminary@lemmy.world
      10·
      1 day ago

      Isn’t failing a business on purpose for profit a shitty but viable strategy? I’ve seen at least one YouTuber who explains how this stuff works but it escapes me every time so I’m wondering if anybody has insight on this.