Economies can’t handle interest rate shocks (the mortgage industry is a case in point), and the repercussions put politicians in deep peril. So, it is a certainty that nobody is freaking out more than Trump administration officials. This is because oil prices and interest rates are up again today! (Mortgage rates have now climbed almost 5/8%!) But here’s a fascinating and comforting reminder: In 1993 and 1994, 10 Year Treasury Yields rose from 5.2% to over 8.0%! (A 3% increase!) This was in response to Clinton’s efforts to push through a massive stimulus bill that the bond market did not like.Read More