‘Mar-a-Lago Accord’ Chatter Is Getting Wall Street’s Attention

It sounds too radical to even warrant a second thought. That President Donald Trump could force some of the US’s foreign creditors to swap their Treasuries into ultra long-term bonds to ease the country’s debt burden.

And yet, that’s what Jim Bianco corralled his clients to discuss on Thursday after rumors of a so-called ‘Mar-a-Lago Accord’ began making the rounds.

Jim Bianco

Photographer: Hollie Adams/Bloomberg

To be clear, Bianco doesn’t see it happening anytime soon, if ever. But in some ways that’s beside the point. Trump, he said in no uncertain terms, could very well upend the entire global financial order over the next ...