Exorbitant Privilege Rocket Jetpack or Wile E. Coyote Moment?

What explains the continued extraordinary high prices of U.S. Treasury securities given a massively disfunctional U.S. political system and Republican Party?

Is global demand for dollar assets in a safe haven the equivalent of a rocket jetpack for the U.S. economy, or are we waiting for a Wile E. Coyote moment?

Stacy-Marie Ishmael writes:

FT Alphaville » The Treasury non-conundrum, or why yields are trading below 3.6%: SocGen economist Aneta Markowska affects bemusement at the...