Regarding your last sentence, this isn't happening in a vacuum, and rejecting the risk-free assumption behind US debt seems like a symbol with a lot of information content.
Same point. It would need to increase by: an order of magnitude AND happen every day before it becomes a problem. $8B (actually $260m) isn’t moving markets. $80B/day for a month, that would move the needle.
I understand why people want this to be a bigger deal. It just isn’t. Not yet.
I understand why people want this to be a bigger deal. It just isn’t. Not yet.