Trust the Process!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Papic argues rising global bond yields signal economic strength and Fed discipline against policy incoherence, not fiscal collapse.

• Bessent's bond intervention called misguided: Papic argues Treasury Secretary Scott Bessent's effort to talk down long yields was flawed because rising yields reflect a strong economy, not distress — equities at all-time highs and a dollar up 4% in 2025 confirm it.
• A third of US yield rise is deliberate Fed pushback: Papic's 'conspiracy theory' splits the 10-year move into thirds — strong growth, Middle East war uncertainty, and the Fed hiking to punish policy incoherence and anchor inflation expectations despite falling core PCE.

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