The Durable Hibernating of Vigilantism

By |2021-04-20T18:49:58-04:00April 20th, 2021|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

When their paper came out in January 2010, Carmen Reinhart and Kenneth Rogoff put a number on bond vigilantism as it had been known in prior history. The idea behind investor fickleness was simple and intuitive: profligate governments who finance their ill spending ways by borrowing will literally end up paying the price once the exceed common sense. And when [...]