October 5, 2017

The worldwide bond market tops $100 trillion, and we live in a world (as we are incessantly told) of global capital markets.  All told, there is more than $217 trillion in global debt outstanding, and that figure rises by many trillions every year, reports the Institute of International Finance. The U.S. Federal Reserve, as widely reported, plans to start reducing its balance $4.5 trillion sheet, often described as massive or even “yuge.” But it turns out due to rising piles of U.S. paper cash in circulation, there is not that much bond-selling the Fed can do. Indeed, as noted by… Read More

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