Global Bond Markets Collapsed, But The Overhead Sets In Pescadero Are Pumping
As a catastrophic global bond sell-off pushes sovereign borrowing costs to multi-decade highs, local expats are deeply concerned with whether their 9:00 AM taco run will clash with the morning glass-off at Cerritos. Back home, financial systems are imploding under decades of fiscal mismanagement, but down here on the Baja peninsula, nobody cares because the rights are firing off the point. Who needs a functioning sovereign yield curve when the Pacific is hitting overhead and Pacifico is still forty pesos?