Bond yields are up in response to Walmart price hikes, Trump’s comments, and a budget making it out of committee.
The above chart is an update following news of the budget making it out of committee. See addendum below.
Earlier today I noted Trump Blasts Walmart on Price Hikes, Sounds Just Like Elizabeth Warren
Trump on Walmart
“Walmart made BILLIONS OF DOLLARS last year,” he wrote in a post Saturday on Truth Social. “Between Walmart and China they should, as is said, ‘EAT THE TARIFFS,’ and not charge valued customers ANYTHING. I’ll be watching, and so will your customers!!!”
Lat year, in a letter to Kroger, Senators Elizabeth Warren and Bob Casey accused large grocery chains like Kroger and Walmart of being poised “to squeeze consumers to increase profits.”
Now Trump says Walmart should “EAT THE TARIFFS”
Trump Goes Full Kamala Harris
I failed to note a previous comment by Trump that further highlights the stupidity of it all.
Please consider Donald Trump Plays Walmart CEO
He goes full Kamala Harris in demanding that the retail giant not raise prices.
Mr. Trump’s flip-flop on price controls is a rebuttal of his own previous tariff claims. For months he’s said that foreign producers pay the full cost of tariffs. But now he’s admitting that Walmart, an American retailer, will have to eat some of the costs or pass them on to Americans.
Mr. President is telling a company how to run its business, along with a vague, implicit threat of retribution. Marxist? How would Mr. Trump react if Congress told him how much his family could charge for a Mar-a-Lago fee?
Trump Statements
- Item One: “After causing catastrophic inflation, Comrade Kamala announced that she wants to institute socialist price controls . . . Her plan is very dangerous because it may sound good politically . . . This is Communist; this is Marxist; this is fascist.”
- Item Two: “Walmart should STOP trying to blame Tariffs as the reason for raising prices throughout the chain. Walmart made BILLIONS OF DOLLARS last year, far more than expected. Between Walmart and China they should . . . EAT THE TARIFFS, and not charge valued customers ANYTHING. I’ll be watching, and so will your customers!!!”
When Will the Real Donald Trump Stand Up?
There is no real Donald Trump because he has no lasting positions on anything except tariff stupidity that he blames on everyone else.
What the cult labels 5D chess is a playground sandbox of temper tantrums, bullying, and mud slinging.
When he doesn’t get his way he throws a bullying hissy fit like he did on Walmart.
Bond Market Reaction
Long-term bond yields keep inching up because the bond market has no belief Trump will reduce spending or fix the deficit.
The one big beautiful bill is a fiscal train wreck with Trump as conductor.
The Ugly Truth About the ‘Big Beautiful Bill’
Senator Ron Johnson (R. WI) explains The Ugly Truth About the ‘Big Beautiful Bill’
Under every scenario now being considered, federal debt continues to skyrocket from its current level of almost $37 trillion. The CBO’s current projection adds around $22 trillion over the next 10 years, resulting in total debt of approximately $59 trillion—134% of GDP—in 2035. That projection assumes an automatic tax increase will occur in 2026 when provisions of the 2017 tax cuts expire, increasing revenue from 17.1% of GDP in fiscal 2025 to an average of 18.1% over the next 10 years. With the CBO projecting 10-year GDP at $373 trillion, that 1% increase represents $3.7 trillion of additional revenue and lower debt.
The “One Big Beautiful Bill” Will Continue Spending at Biden’s Level
Trump has provided no leadership on this bill. It deserves to die. Congrats to the few Republicans willing to stand up.
The cult will now threaten to primary the fiscal hawks. These fools don’t understand that Republican infighting is the last thing Republicans need.
Had Trump provided any leadership and demanded more budget cuts, we would not be where we are.
Don’t blame the Fiscal hawks, blame Trump for being a spineless leader (from a fiscal standpoint) who’s trying to steer a rudderless ship by commanding the wind to blow as he wants.
My fear is this will end the way it always has. More spending on this in return for more spending on that.
Addendum
The One Big Beautiful Bill just passed the House Committee.
Four alleged “hardline” members of the committee’s 21 Republicans allowed the legislation to advance by voting “present” in a rare Sunday night session. The bill passed in a 17-16 vote, with all Democrats voting against it.
A bit of sense lasted a few days.