Taps Coogan – October 3rd, 2023
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For the first time in recent memory, CNBC’s Rick Santelli was allowed sufficient air time to share his views on markets and warned that he sees the 10-year treasury continuing to march higher for years to come, potentially hitting as high at 13%:
“If someone held a gun to my head and said listen ‘Worst case scenario, where are treasury rates going to go?’ I’d say in the next seven years you should be able to see 13.5%-14%…”
“If you want to know where inflation is going and taking the markets, just look at government spending. The vigilantes have new horses and they’re riding… We’re spending too much and we’re not learning to cut back… This is the market’s way to get Washington’s attention…”
“The quantitative easing removed many signals in the markets that now it’s trying to put back in place… We have too many large economies that are in the same boat. Who’s gonna buy this paper?”
There is more to the discussion, so enjoy