Deutsche bank's george saravelos taps the sign: 'a twin deficit country is dependent on the kindness of strangers'
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"The challenge for the USD and the US bond market is that the twin deficit position requires ongoing funding from foreigners to be sustained. By extension, foreign investor risk
sentiment becomes all the more important in ensuring bond and currency market stability. It is an oft-repeated phrase that a twin deficit country is dependent on the 'kindness of
strangers.' This now applies to the US, but by extension it will make the stability of US markets all the more dependent on non-confrontational foreign and economic policy to ensure
their funding."