It is often said that a businessman like Donald Trump or Elon Musk will know how to put America’s fiscal house in order. But between Trump’s planned tax cuts and Musk’s absurd estimate of how much federal spending can be reduced, the smart money says they have no idea what they are doing.
Cambridge: When the US presidential election was called for Donald Trump, the yield on ten-year US government bonds increased from 4.3% to 4.4%, and the 30-year bond yield rose from 4.5% to 4.6%, with both remaining at those levels 10-days later.