I don’t even know whether to address this one because the details are so thin but I expect we will hear more about it.
“There could be a problem, we’ve been reading about that, with Treasuries,” Trump told reporters Sunday on Air Force One.
“That could be an interesting problem because it could be that a lot of those things don’t count,” he said. “Therefore maybe we have less debt than we thought of.”
Now ‘a lot’ is open to interpretation because it could be $1 billion which is ‘a lot’ by almost any measure but insignificant in the Treasury market. Now if he meant ‘a lot’ of the Treasury market insofar as it would impact the budget, then we could have some real problems in the market.
Stay tuned…