Scaramucci: The Bond Market Does Not Like the Spending Bill, It’s a ‘Potential Cataclysm’

EXCERPT:

SCARAMUCCI: "Well, I mean, as a stock market investor, a longtime asset manager, I like it. I think it‘s a — it‘s proof that the system is sort of corralling the worser instincts of the administration. And so I will say this, though, Anderson: the bond market does not like the spending bill, and so they want to put that through. There‘s a freight train coming in the bond market. And if you see rates back up 100, 150 basis points, it'd be terrible for the economy, terrible for housing. And remember, our small businesses are connected to housing, 60% of them, and that‘s where all the job growth is. So, that bill could be a potential cataclysm out there, and I think the bond market is telling people that. But I do like the slowdown that the courts are are doing to this administration."