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Despite the Trump administration’s systematic erosion of America’s capacity to create wealth over the long term, bond markets and investors seem to have fallen asleep at the wheel. But their complacency is not the result of ignorance; it is a highly profitable – and extremely risky – choice.
PROVIDENCE – While many Americans and US allies recoil at the accelerating regime change under President Donald Trump, financial markets remain curiously calm. Equity indices continue to hover near record highs, and serenity prevails in the bond market – traditionally the stern disciplinarian of fiscal and political excess.
