The risk of U.S. government debt is not a sudden day of reckoning where investors flee overnight, but rather a slow bleed that has already been underway for 10 to 15 years, manifested as a growing risk premium on Treasury yields relative to other AAA-rated sovereign debt.
causalpending
Speaker
Richard BernsteinEvidence Quote
“rather it's a slow bleed and that slow bleed has been going on for really 10 or 15 years already [21:42]”
Source
The Colossal Mistake | The Danger of Narrow Markets — Practical Lessons from Richard Bernstein— Excess ReturnsCreated: 8/11/2026, 7:31:42 AM
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