Taylor Swift’s Economy Is Bad News for Bonds

Updated 16 minutes ago

Taylor Swift’s Economy Is Bad News for Bonds

From

Gunjan Banerjee

Lead author

Americans spent money on everything from travel to Taylor Swift concerts this year, part of a YOLO mentality that helped prop up the U.S. economy despite expectations that it would stall .

The summer luxury of the Swifties on the Eras Tour helped fill hotels and fill restaurants and bars, a trend that seemed to boost the local economy and earned it the moniker Taylornomics (read more about it here). The Fed also took notice.

So far, spending has remained strong – and so has the economy. One reason: the labor market remains robust. New data on Tuesday showed job openings increased in August compared to July.