Sooner rather than later we'll know if it matters/Shipping costs jump again, inflation is not dead, inflation volatility is here to stay/Other

With the Congressional Budget Office raising its fiscal 2024 deficit estimate to almost $2 trillion I believe we are sooner rather than later going to resolve the debate over whether ever rising debts and deficits matter for the direction of borrowing costs. The danger though now is that part of the rising estimates is due to higher interest rates. I get the question all the time as to when will DC care which would result in some action to slow the pace of rising debts and deficits and my only answer is when the bond market forces them to and I'll define that as a 6% 10 yr note yield. That would create some shock to the system I'm guessing that could create some crisis where something might get done. 

And, while I don't know if 6% is something we'll see, I still believe the bond bear market didn't just end in a few years and that at least a retest of 5% will happen in the 10 yr yield. 

Let's update shipping costs, reminding everyone that almost every single thing that gets produced in this world ends up on a ship at some point. The World Container Index Shanghai to Rotterdam route for a 40 foot container jumped for the 9th straight week by another $690 to $6,867, more than doubling over this 9 week time frame and about 4x where it started the year. The price for a trip to LA rose by $416 to $6,441. 

Understand too that we are just months away before holiday stuff hitting the seas. And, air cargo freight rates are spiking too as I've mentioned previously. Inflation is not dead, inflation volatility is here to stay.