Drudge Retort: The Other Side of the News
Thursday, February 08, 2018

The Dow Jones Industrial Average sank another 500 points on Thursday as a renewed rise in U.S. bond yields and fears of higher inflation unnerve investors still piecing over a historic drop earlier this week. The 10-year U.S. Treasury yield US10YT=RR rose to a high of 2.884 percent in morning trade, nearing Monday's four-year peak of 2.885 percent after the Bank of England said interest rates probably need to rise sooner than previously expected. That added to expectations that the world's major central banks are now firmly on course to wind down the emergency stimulus they have pumped through the financial system since 2009, driving an almost decade-long stock market rally.

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CNNMoney: The bull market has feasted on extremely low bond rates. The fear is that Treasury yields will rise to levels that make stocks less attractive and force the Federal Reserve to fight inflation by aggressively raising interest rates.

Washington is putting more pressure on rates. The U.S. Senate reached a bipartisan deal Wednesday that would boost spending limits by $300 billion over the next two years. The compromise, coupled with Republican tax cuts, could lift the federal budget deficit to $1.07 trillion in fiscal 2019, according to Bank of America estimates.

Wall Street anticipates that more government spending will force the Treasury Department to borrow more money by selling additional bonds. To drum up demand for that higher supply, rates mx`ay have to go up.

Bank of America analysts warned that the Senate agreement will contribute to "higher rates" and raise "risks for tighter overall financial conditions."

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It's a great day to be poor.

I still have my $1.50!

#1 | Posted by donnerboy at 2018-02-08 04:36 PM | Reply | Funny: 2

Donald, you mother ------, give me my money back!

#2 | Posted by moder8 at 2018-02-08 04:42 PM | Reply | Funny: 1

#2

Wait, I thought that this was still Obama's economy, that's what Hans/Corky/Speak/Danni etc. have repeatedly said...

#3 | Posted by Rightocenter at 2018-02-08 04:45 PM | Reply | Newsworthy 3

Thanks, Obama!

--Hans

#4 | Posted by nullifidian at 2018-02-08 04:51 PM | Reply | Newsworthy 2

I'm not Hans/Corky/Speak/Danni. And I want my ------- money back!

#5 | Posted by moder8 at 2018-02-08 05:01 PM | Reply

"And I want my ------- money back!" - #5 | Posted by moder8 at 2018-02-08 05:01 PM

No refunds.

Exchange or store credit only.

#6 | Posted by Hans at 2018-02-08 05:03 PM | Reply | Funny: 7

Wait, I thought that this was still Obama's economy, that's what Hans/Corky/Speak/Danni etc. have repeatedly said...

#3 | Posted by Rightocenter

We have already established that if the market goes down it is because of Obama and his blackness.

If the market goes up, well then, it is obviously because of Trump and his awesomeness.

#7 | Posted by donnerboy at 2018-02-08 05:10 PM | Reply | Newsworthy 1

Wahhh workers are getting paid more! Companies can't rape them as badly! Sell sell sell!

#8 | Posted by SpeakSoftly at 2018-02-08 05:33 PM | Reply

The first year is old POTUS, the next 6 is a mix, then it's all new POTUS.

Most people could agree with that.

Now the behaviour of of the President Donnie Combover, mainly in his carnival barking and claims that he runs the stock market, may mean this 6 months is more Donnie than anything. Combined with the Historic Tax Bill and anti-cooperation policies, I would say this fool has to take the responsibility.

#9 | Posted by BruceBanner at 2018-02-08 06:00 PM | Reply | Newsworthy 4

I would say this fool has to take the responsibility.

#9 | Posted by BruceBanner

You mean he should.

He won't.

#10 | Posted by donnerboy at 2018-02-08 06:12 PM | Reply

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#3

Liar. I've never said that. And I want M8's wife's money back!

#11 | Posted by Corky at 2018-02-08 07:20 PM | Reply | Newsworthy 1

Trump replaced Janet Yellen with Jerome Powell, then they raised interest rates and said they would do so three more times. The stock market is on Trump. He built this.

#12 | Posted by danni at 2018-02-09 06:37 AM | Reply | Newsworthy 1

"...I thought that this was still Obama's economy..." - #3 | Posted by Rightocenter at 2018-02-08 04:45 PM

White House, GOP celebrate passing sweeping tax bill - December 20, 2017
And...
"Trump replaced Janet Yellen with Jerome Powell, then they raised interest rates and said they would do so three more times. The stock market is on Trump. He built this." - #12 | Posted by danni at 2018-02-09 06:37 AM
Live in the now.

#13 | Posted by Hans at 2018-02-09 06:56 AM | Reply | Newsworthy 2

The stock market is on Trump. He built this.

#12 | POSTED BY DANNI AT 2018-02-09 06:37 AM | REPLY

It's still up 4,000 points since Trump was elected.

#14 | Posted by sitzkrieg at 2018-02-09 08:39 AM | Reply

It's still up 4,000 points since Trump was elected.

#14 | Posted by sitzkrieg at 2018-02-09 08:39 AM | Reply

It didn't become Trump's market immediately.
Read #13 again.

#15 | Posted by eightfifteenpm at 2018-02-09 09:35 AM | Reply | Newsworthy 1

I didn't say it was. Read #14 again.

#16 | Posted by sitzkrieg at 2018-02-09 09:50 AM | Reply

#16
If the 4000 point rise has nothing to do with Trump, why mention him?

#17 | Posted by eightfifteenpm at 2018-02-09 10:25 AM | Reply

Wall Street Sinks Again as Bond Yields Rise

#MAGA = Make America Gypped Again

#18 | Posted by PinchALoaf at 2018-02-09 10:41 AM | Reply

This is what happens every time a Republican takes office after a Democrat has had 8 years. The Dems spend spend spend to give out services for free to everyone and then the Reps have to come back in and get things to manageable levels (it's just too bad they fail at it). This has occurred before and will occur again. This is a direct result of the parties not working together to provide services that are necessary in a fiscal manner. They both have valid concerns that need to be addressed but because of partisanship, one side refuses to even look at the negatives of their actions that the other party is bringing up. So Dems want to provide everything to everyone for free and the Reps tell them they need to be more realistic about how much it costs our country. Then the Reps get in and they want to spend without catering to people with little self responsibility and the Dems tell them not taking care of those people costs our country even more in the long run, but the Reps ignore them. All the while, the problem just festers and gets worse.

#19 | Posted by humtake at 2018-02-09 12:14 PM | Reply

I wish Donald Trump would decide if he wants the market up or down.

#20 | Posted by Zed at 2018-02-09 12:17 PM | Reply

This is what happens every time a Republican takes office after a Democrat has had 8 years. The Dems spend spend spend to give out services for free to everyone and then the Reps have to come back in and get things to manageable levels

Are you even on the same planet as the rest of us?

Republicans just voted themselves a $1.5 trillion unfunded tax cut and then just passed an unfunded budget that adds another $1.5 trillion to the deficit and then raised the debt ceiling with no plans to reduce the deficit or get spending under control.

#21 | Posted by donnerboy at 2018-02-09 12:22 PM | Reply | Newsworthy 2

Trump replaced Janet Yellen with Jerome Powell, then they raised interest rates and said they would do so three more times. The stock market is on Trump. He built this.

#12 | POSTED BY DANNI AT 2018-02-09 06:37 AM | FLAG: | NEWSWORTHY 1: I believe that statement may be incorrect as to the best of my knowledge Powell has not raised Fed the interest rate since he just took his position, though he may do so in the future if deemed advisable.

#22 | Posted by MSgt at 2018-02-09 02:03 PM | Reply

Wait, I thought that this was still Obama's economy, that's what Hans/Corky/Speak/Danni etc. have repeatedly said...

#3 | POSTED BY RIGHTOCENTER AT 2018-02-08 04:45 PM | REPLY | SHEEPLEWORTHY 3

It was Obama's economy... until Trumplethinskin passed His Tremendous tax bill... and you applauded... now its all on you bitch.

#23 | Posted by RightisTrite at 2018-02-09 02:07 PM | Reply | Newsworthy 3

Couple this rate hike with the current a lack of real estate inventory in many places, and home buying gets much, much tougher.

#24 | Posted by hoser at 2018-02-09 05:47 PM | Reply

"... and then the Reps have to come back in and get things to manageable levels (it's just too bad they fail at it)." - #19 | Posted by humtake at 2018-02-09 12:14 PM

So they don't "come back in and get things to manageable levels"?

Do you even think before you post?

#25 | Posted by Hans at 2018-02-09 08:00 PM | Reply

If the 4000 point rise has nothing to do with Trump, why mention him? - #17 | Posted by eightfifteenpm at 2018-02-09 10:25 AM
I guess it could have been "It's still up 4,000 points since Clinton was defeated.", but that seems unnecessarily. cruel.

#MAGA = Make America Gypped Again - #18 | Posted by PinchALoaf at 2018-02-09 10:41 AM
Pinch, were you aware that
'gypped' is a racist term when you threw it out there?

#26 | Posted by Avigdore at 2018-02-10 01:59 PM | Reply

Avigdore, are you aware you're concern trolling?

#27 | Posted by snoofy at 2018-02-10 02:01 PM | Reply

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