https://www.bloomberg.com/news/features/2025-02-24/elon-musk-s-doge-budget-cut-plans-aren-t-convincing-the-bond-market Trump measure of success is no longer a rising S&P 500, it is now a falling 10-year yield. Good luck and godspeed, --- From the link below ... Musk got the message loud and clear. The bond market was doubting him, demanding more evidence that the cuts were adding up fast enough to actually rein in the bloated budget deficit and curb the ever-growing national debt. This, Musk insisted, was a mistake they’d come to regret. “The bond markets do not currently reflect the savings that I’m confident we can achieve,” he said during a freewheeling, hour-long discussion he led on his social media platform, X. “If you’re shorting bonds, I think you’re on the wrong side of the bet.” Trump has famously obsessed with the stock market as a real-time referendum on his presidency. But now, with Musk and Treasury Secretary Scott Bessent in his ear at the start of his second term, much of the attention has shifted to another benchmark — the 10-year Treasury bond yield. With good reason. As powerful as the Federal Reserve is, with its control of short-term rates, and as much sway as it has on stock market sentiment, it’s the 10-year Treasury rate that largely determines the cost of money for homebuyers and the biggest US companies. Bring that rate down and it’ll pave the way for millions of Americans to buy the house they’ve wanted for years and, in the process, stoke faster economic growth and curb the alarming surge in the government’s annual interest tab.