Tariff shock: The Achilles heel
ANALYSIS: The Achilles heel for the US – the funding of a large fiscal deficit via the US bond market – has been exposed.
In a world turned upside down by President Trump's recent Rose Garden tariff speech, investors have been challenged by the initial scope of the tariffs and the seemingly erratic walk of announcements. Perhaps the long-term goal is a rebalancing of the US economy, to bring the US fiscal deficit
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