Two Months into FY 2025, $624 Billion Fiscal Deficit
Two months into fiscal 2025 and the U.S. has already run a $624 billion deficit. Long yields will move higher if this pace of spending persists. The 10-year yield sits at 4.3% and will break 5% in Q1 should this pace of spending continue.
Did I mention that Tech stocks are wildly overvalued? I want to short everything.