Again, this is all a hypothetical, but if some
of this «sense» around said USD «
bull driver» turning potentially bearish was to «leak» into the
market, it would take some
of the air out
of the «
long USD» trade — and that is where things could go off the rails.
However, there are greater
drivers of burgeoning state pension debts, such as the state legislature's
long history
of underinvesting in the pension fund as well as increasing benefits during
bull markets without ensuring
long - term solvency.