UBS On-Air: Paul Donovan Daily Audio 'The risk of fantastic savings'
UBS On-Air: Market Moves · Podcast owner
February 21, 20252m 20s
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Show Notes
US Treasury Secretary Bessent signaled that former US Treasury Secretary Yellen’s debt issuance plan would continue, implying no increase in longer-dated Treasury bonds and lowering 10-year yields. This support is threatened by talk of a “DOGE dividend” to taxpayers. There is a considerable gulf between claimed government savings and economists’ view of reality. Refunding illusionary savings would be a deficit-financed stimulus check.