The funniest thing that's happening to Donald Trump right now is that while he tries to intimidate the Fed to reduce interest rates and they do nothing, yields are soaring all by themselves

 The bond market is issuing a vote of no confidence in our elected leadership.

One branch of Republican government thinks this is the 19th century with a robust manufacturing base it needs to protect with crazy wild tariffs, and another branch of Republican government thinks it's just fine to go on spending like drunken sailors and not raise taxes to pay for any of it.

Interest payments alone on the national debt in fiscal year 2024 soared to $1.1 trillion against revenues of $4.9 trillion.

Meanwhile the most powerful military in the world can't stop a bunch of rag-headed heathen bastards from launching missiles at Israel.

These people are crackerdog.

US Treasury yields are now up a net 2.37% across the curve since last Friday.

 

Long duration is very unhappy: 10Y at 4.53 at the close yesterday, 20Y at 5.00, 30Y at 4.97.

 

VUSTX ytd total return: -0.53%.

 

 

Rag-headed heathen bastard King of Qatar to award Mad King Ludwig of America lavishly appointed $400 million 747-8 jumbo jet to use as Air Force One until Boeing gets its act together

 Trump administration poised to accept 'palace in the sky' as a gift for Trump from Qatar: Sources

Trump poised to accept Qatar jet gift as Air Force One

 

 

 

There's strife in Iran

200,000 protesting fuel tax increases of 50% designed to pay for subsidies for 18 million poor. At least 143 killed. Perhaps 4,000 arrested.

731 banks, 140 government offices, 70 gas stations set ablaze.

50 internal security forces' bases attacked.

Reuters.

Maybe the rag-headed heathen bastards should stop funding nukes, rockets and terrorism instead.

Trump thinks winning a war is about killing people when it's about killing their ability to make war

Afghanistan could have been over and done with before the end of 2001 by destroying all the infrastructure: roads, water projects, dams, electric power stations and grid, et cetera, et cetera, et cetera, nuking the poppy fields on the way out.

Not one American life need have been sacrificed, nor 10 million Afghan lives, not that we should care about the rag-headed heathen bastards.

But we are not a serious country.

Our markets closed early today in honor of the birth of Jesus Christ, you rag-headed heathen bastards

Dear Rag-Headed Heathen Bastards: Our Markets Are Closed For Good Friday

Hey al Qaeda! Happy Anniversary, You Rag-Headed Heathen Bastards!