The MacroTourist

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UK LONG-END DEBACLE IS JUST THE BEGINNING

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UK LONG-END DEBACLE IS JUST THE BEGINNING

The 'tourist looks at where the debt has been tacked on this cycle

Kevin Muir
Sep 29, 2022
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UK LONG-END DEBACLE IS JUST THE BEGINNING

posts.themacrotourist.com

A few months ago, I had made the argument that the consumer’s balance sheet was in good shape, and that the American economy would surprise to the upside even in the wake of higher rates. However, I underestimated Powell’s determination to bring inflation back to target sooner rather than later. The recent pace of tightening has eclipsed campaigns of th…

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