One theme of my posts since Russia invaded Ukraine is that America's economic war against Russia is hurting America. If you missed yesterday's post, it sketched out reasons why America, and the West in general, have underestimated Russia's economy, and thus the impact our financial sanctions would have on it.
And American policymakers seem to have underestimated the impact of their sanctions on the U.S., including the impact on U.S. Treasury bonds. But it's something I wrote about here last month (Betting Against Bonds):
