“Thus, it should be understood that when pro-US figures use the term, 'rules-based international order,' they are not referring to anything analogous to the rule of law. Quite the opposite, they are using Orwellian language to describe a system in which essentially no rules can be established and/or observed, given that the dominant state has the prerogative to violate and/or rewrite “rules” at its whim.” Aaron Good, American Exception
We are not sure what to make of this drawdown in the short end of Treasuries.
The Fed says don't worry, that's just us buying up the market.
Perhaps they are rebuilding their bank panic breakwall.
But in the meanwhile, we'll head to higher ground for a better view.
