Yield - It's The Yield Stupid

Noun

The amount of something that is produced, such as the profit made from an investment. For example, "The yield of the recipe was twelve brownies"

Where it comes to T-Notes and Bonds, it is all about the yield on the bond which is dictated by the price you are willing to buy the debt for in the first place.  Pay a lot for that I.O.U. and the yield is small.  Pay a little less for the same I.O.U. and the yield is larger.  

Uncle Sam is finding "true price discovery" of the value of his debt.

That little toad over at Treasury is finding out what the free market really thinks a T-Note or Bond is truly worth.  

She can't count on the Federal Reserve to ride to the rescue and buy up the debt at Mount Everest Nosebleed prices and subsequently drive down the yield by artificial means.  At the moment, she is dependent upon the free market to make up its mind about what her pieces of paper are truly worth.

Sure, anything could happen.  The Federal Reserve could say "fuck it" and turn the spigots back on and buy up Treasury paper at nearly full face value.  That would mean telling 70% of the country to suck it up and prepare to take a wheelbarrow brimming with dollars to Wal-Mart every week to buy Great Value Mac-N-Cheese, off brand soup, Red White & Blue six packs, etc.

The Fed and our wonderful leadership of the past four years managed to put its collective tit in a wringer and now it has few palatable options where it comes to removing said tit from said wringer.  All because they just could not stand another four years of the Deplorable Orange Man as President.  So fucking stupid.

James Carville is your grandfather's Democrat - someone who doesn't have his head up his ass and a person you could have a real conversation with - sad to see it is now the party completely overwhelmed with hustlers and short sighted idiots.