Interest rates, kept at historical lows by the Fed during the financial crisis, are starting to rise because of the flight from bonds and concern over rising debt, particularly that of the United States.
While many economists have called the flight to bonds a flight from risk, the unfolding drama also implies that the U.S. market suffers from a systemic trust crisis.
The rise in equities had yet to spark a flight from bonds though, as the 10-year Treasury was yielding 3.88%, down from 3.90%, Tuesday.
During this later chapter, a fight breaks out on the open ramp of the aircraft in flight between Bond and Necros, before Necros falls to his death.
A seat on a spaceship to experience weightlessness about 100km above the planet costs $250,000, including three days of "pre-flight preparation, bonding, and training" at New Mexico's Spaceport America (virgingalactic.com).
What people forget is, along with the stock markets going down, there was a huge rally in government bonds, flight to safety.
The Cameron government likes to point to low British interest rates — which are not just the result of safe-haven flight into the bonds of every advanced-country government that still has its own currency.
The flight to government bonds pushed the yield on the 10-year Treasuries to 4.66% from 4.72%.
Analysts do not attribute the flight from the bond market to any significant change in the outlook for the economy.
Not surprisingly, a large majority of Greeks want to keep the euro.Playing for timeFor the rest of Europe, a Greek exit would also be dangerous: it could cause bank runs, capital flight and soaring bond yields in Portugal, Italy and beyond.
