Stocks Flat As Mystery Buyer Emerges For Bonds After "Budget-Busting Bill" Passes, Bitcoin Tags $112,000

Today had all the hallmarks of a day when US interest rates would finally spiral out of control. 

It all started just before 7am ET when we got news that Trump's "Big, Beautiful" Deficit-Busting reconciliation bill had passed the House by the slimmest of margins in a 215-214 vote. The initial kneejerk reaction was expected: with the CBO scoring the deal as adding about $500BN to the deficit annually over the next four years,