Interesting parallels for Dutts with what's happening in Canada - the "Trump effect" in action.
The Trump effect has just hit Canada’s election – and it could rub off on Australia’s.
www.smh.com.au
Canada guy was a big time banker prior to politics and was the architect of the US Treasury Bonds sell off by Japan, China, Switzerland etc and won a lot of admirers. That move alone tanked the entire tariff bullshit and exposed the US’s soft debt underbelly.
There is a perception by some that Trump’s motive is to collapse the economy so that he can refinance the US debt at a lower rate, however that concept is flawed, as Treasury Bonds are negotiated at the basis if risk.
Already the 10/15/20 year US Bond rate has crashed and now is fluctuating. Refinancing U.S. Treasury debt isn't as straightforward as refinancing a mortgage. Treasury bonds are influenced by market risk. The green back is no longer the safe haven or stable currency that it used to be.