Today Michael Pento accused the mainstream media of misleading the public once again. Pento, who founded Pento Portfolio Strategies, writes exclusively for King World News about the ultimate collapse and the real reason interest rates are rising: “The prevailing notion among the mainstream media and economists is that interest rates are rising because of improving economic growth. But like many of the readily accepted tenets of today’s world of popular finance, this too has its basis in fallacy.”
Michael Pento continues:
“Interest rates recently increased by nearly 40 basis points on the 10-year note since the first week of March and that is being offered as proof that the economy has healed and GDP growth is about to accelerate. But in truth the recent spike in Treasury bond yields is only the result of a temporary ebbing in the fear trade that brought about panic selling in Euro denominated debt, which had previously caused U.S. Treasury prices to soar.
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