Riding with the Bond Vigilantes: How Investors Are Reacting to Rising Deficits and Volatility
The Watchdogs of the Debt Market
Bond vigilantes—a term coined by economist Ed Yardeni in the 1980s, are investors who push back against government overspending by reducing demand for U.S. debt. Their message: stop running massive deficits, or borrowing will become more expensive.
There is no…