The bond market is telegraphing a collapse.
The 10-year treasury yield sits at 4.57 percent. This level acts as a tourniquet on the entire economy. Source: fred.stlouisfed.org History warns us of the danger. In 1994, the Fed raised rates and triggered the “Bond Massacre,” where bonds fell 2.9 percent. Today, we are in a far deeper hole. Federal debt has reached $38.9 …