Yellen: U. S. Will Be in a FINANCIAL DISASTER China Sells 446. 7 Billion U. S. Bonds and Fed Shorts

On February 7, the yield on the 10year U. S. Treasury note peaked at 3. 64, rising for two days to a fourweek high. Twoyear U. S. Treasury yields, which are sensitive to the Federal Reserve s monetary policy, rose to 4. 48, erasing all of the yield declines since Jan. 6. This reflects the plunge in U. S. Treasury prices as global buyers continue their big selloff. Treasury Secretary Janet Yellen issued another warning on Feb. 7, saying that the U. S. government risks economic and financial catastrophe if the House of Representatives fails to pass legislation to raise the 31. 4 trillion debt ceiling. America has paid all its bills on time since 1789, and failing to do so would be an economic and financial catastrophe. And every responsible member of Congress must vote to raise the debt ceiling. Bank of America CEO Brian Moynihan warned on Feb. 7 that the market should prepare for a U. S. debt default and recession, which could drag down U. S. corporate earnings. TOP 3 V