Why the Bond Market Is Freaking Everyone Out

This week, Emily Bazelon, John Dickerson, and David Plotz discuss how a narrow Supreme Court majority used aesthetic standing to greenlight Trump’s ballroom construction, why bond yields are rising around the world and how that impacts everyone with guest Jason Furman, and how the extradition showdown between Texas and Minnesota over an ICE officer involved in a shooting betrays fraying relations among the states. Here are some notes and references from this week’s show: Amy Howe for SCOTUSblog: Supreme Court allows construction on White House ballroom to continue Jacob Sullum for Reason: Trump’s White House Ballroom Is a Monument to His Lawlessness Molly Roberts for Lawfare: The Supreme Court’s Ballroom Non-Decision William Baude for Divided Argument (Substack): Esthetic Standing in the White House Ballroom Case The Editors of National Review: The Ballroom Dance Doesn’t Belong in Court Liam Scott for The Washington Post: White House construction was a factor in Marine One safety incident, NTSB finds Nicholas Riccardi for Associated Press: Postal Service work to comply with Trump’s executive order is rushed and sloppy, a whistleblower contends Chelsey Dulaney, Alexander Osipovich, and Caitlin McCabe for The Wall Street Journal: Bond Yields Around the World Soar in Challenge to Government Borrowing Christopher Rugaber and Stan Choe for Associated Press: Why bond yields are rising and why everyone should care The Economist: America will regret Scott Bessent’s bond-market misadventures Joe Rennison for The New York Times: How the A.I. Borrowing Binge Helps Drive Up Government Bond Yields The Editors of National Review: It’s the Debt, Stupid Michael Gonzalez, Valerie Gonzalez, and Sudhin Thanawala for Associated Press: ICE officer’s release from Texas jail opens a new front in the escalating fight over extradition Quinta Jurecic for The Atlantic: The Fight Between Texas and Minnesota Should Never Have Gotten This Far Lucio Vasquez for Houston Public Media: Is ICE agent Christian Castro a fugitive? Texas and Minnesota disagree Ian Millhiser for Vox: A federal judge just discovered a whole new way to place ICE above the law Alexandra Berzon, Katie Benner, and Hamed Aleaziz for The New York Times: Exclusive: ICE Skipped Basic Checks in Rush for Recruits, Whistle-Blower Says Here are this week’s chatters: Emily: Thursd.: Does Cutting Flower Stems Underwater Really Help?; Rachel Feltman for The Washington Post: How to keep fresh cut flowers from dying (with science) John: Crime and Punishment by Fyodor Dostoevsky; Line of Duty on Rotten Tomatoes; The Economist: What Democrats—and Republicans—can learn from Raphael Warnock; Lia Picard for Huffpost: The Hidden Health Benefits Of Eating Leftovers For Breakfast David: Simon Ducroquet and John Ismay for The New York Times: The Logistics Nightmare Facing U.S. Warships; The Last Ship on Netflix Listener chatter from Daniela Koontz in Houston, Texas: Anthropeum For this week’s Slate Plus bonus episode, Emily, John, and David discuss Army secretary Dan Driscoll’s resignation as the latest high-level Army official to run afoul of Pete Hegseth, whether Hegseth is capable of leading the military through a moment of real strain, and the increasing leaks from inside the Pentagon. In the latest Gabfest Reads, David Plotz talks with John Lanchester about his new novel, Look What You Made Me Do, a darkly funny psychological thriller about two couples in modern-day London whose lives collide in a story of infidelity, obsession, and revenge. The book explores the performance of niceness, class, intergenerational frictions and how technology makes vengeance not just possible but almost exceedingly easy in the modern age. Email your chatters, questions, and comments to gabfest@slate.com. (Messages may be referenced by name unless the writer stipulates otherwise.) Podcast production by Nina Porzucki Research by Emily Ditto You can find the full Political Gabfest show pages here. Want more Political Gabfest? Join Slate Plus to unlock weekly bonus episodes. Plus, you’ll access ad-free listening across all your favorite Slate podcasts. You can subscribe directly from the Political Gabfest show page on Apple Podcasts and Spotify. Or visit slate.com/gabfestplus to get access wherever you listen. Find out more about David Plotz’s monthly tours of Ft. DeRussy, the secret Civil War fort hidden in Rock Creek Park.