Bank of America buried under $100B bond losses from 1% yield binge. $11.5T Treasury storm looms foreign buyers dump debt for gold
Bank of America’s sitting on $700B in bonds bought at 1% yields in 2020. Those bonds are down ~40%, hiding $100B in losses. Meanwhile, the Treasury needs to refinance $9T and issue $2.5T in new debt this year. Foreign buyers like China are dumping Treasuries for gold. If Trump disrupts this debt recycling, we’re staring …