Illinois Delays $1.2 Billion Debt Sale
Because nobody wants to buy it at their valuation. Maybe if The Democrats get the majority elected to congress. Then The Feds will buy it instead but with a free market never. Soon nobody will want to hold dollars in bonds here or elsewhere, The Federal reserve will just buy everything. Then a war will start to find out who makes the New deal with new funny money.
To give you a sense of what this may mean to U.S. Treasury Bond investors a 10-year treasury bond issued at a 2.82% interest rate could see a 42% loss in value from a mere 3% rise in interest rates. This means if you’d held $100,000 in these bonds prior to the rise in rates, you would only be able to sell those bonds for $58,000 in the secondary market after the 3% rise. Please note the $58,000 you get back would be before factoring in the loss of purchasing value lost from inflation.