Using inflation to reduce US debt - Trump’s ‘soft default’ option
Published . Updated .
This report is about US interest rates and inflation and prices.
Directly affected
- No company is named in this report.
Indirectly affected
- TLT iShares 20+ Year Treasury Bond ETF-1.8% 30d
iShares 20+ Year Treasury Bond ETF: Treasury bond prices move with interest-rate expectations. Linked by “debt” (US interest rates) in this story.
- IEF iShares 7-10 Year Treasury Bond ETF-0.9% 30d
iShares 7-10 Year Treasury Bond ETF: Treasury bond prices move with interest-rate expectations. Linked by “debt” (US interest rates) in this story.
- TIP iShares TIPS Bond ETF-0.5% 30d
iShares TIPS Bond ETF: it is a common hedge when prices rise. Linked by “inflation” (inflation and prices) in this story.
- JPM JPMorgan Chase-4.3% 30d
JPMorgan Chase (national commercial banks): rate changes move lenders' margins and borrowers' demand. Linked by “debt” (US interest rates) in this story.
- BAC Bank of America-11.1% 30d
Bank of America (national commercial banks): rate changes move lenders' margins and borrowers' demand. Linked by “debt” (US interest rates) in this story.
- WMT Walmart+14.9% 30d
Walmart (variety stores): big consumer-goods sellers feel price rises in costs and shopper demand. Linked by “inflation” (inflation and prices) in this story.
- COST Costco Wholesale+12.7% 30d
Costco Wholesale (variety stores): big consumer-goods sellers feel price rises in costs and shopper demand. Linked by “inflation” (inflation and prices) in this story.
- PG The Procter & Gamble+10.6% 30d
The Procter & Gamble (soap, detergents, cleang preparations, perfumes, cosmetics): big consumer-goods sellers feel price rises in costs and shopper demand. Linked by “inflation” (inflation and prices) in this story.
Price reaction, T-5 to T+3
| Ticker | T-5 | T-3 | T-1 | T0 | T+1 | T+2 | T+3 |
|---|---|---|---|---|---|---|---|
| TLT | -0.20% | -1.03% | base | +0.00% | after close | after close | after close |
| IEF | -0.69% | -0.98% | base | -0.23% | after close | after close | after close |
| TIP | -0.37% | -0.40% | base | -0.23% | after close | after close | after close |
| JPM | -0.92% | +0.67% | base | +1.23% | after close | after close | after close |
| BAC | +1.08% | +1.74% | base | -0.46% | after close | after close | after close |
| WMTNo price data for this ticker | — | — | — | — | — | — | — |
| COST | -0.73% | -2.96% | base | +2.79% | after close | after close | after close |
| PGNo price data for this ticker | — | — | — | — | — | — | — |
Closing-price change versus T-1, the last close before the story. T0 to T+3 fill in after each market close. Prices: Alpaca IEX.
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Using inflation to reduce US debt - Trump’s ‘soft default’ option Livewire Markets
Source: Livewire Markets
The price since 2 Nov 2026: Ishares Tr (TLT) versus the S&P 500
| Company | When | Move | Status |
|---|---|---|---|
| Bank Of America (BAC) | that day | -0.46% | still updating |
| Bank Of America (BAC) | three days earlier | +1.74% | final price |
| Bank Of America (BAC) | five days earlier | +1.08% | final price |
| Costco Wholesale (COST) | that day | +2.79% | still updating |
| Costco Wholesale (COST) | three days earlier | -2.96% | final price |
| Costco Wholesale (COST) | five days earlier | -0.73% | final price |
| Ishares Tr (IEF) | that day | -0.23% | still updating |
| Ishares Tr (IEF) | three days earlier | -0.98% | final price |
| Ishares Tr (IEF) | five days earlier | -0.69% | final price |
| Jpmorgan Chase (JPM) | that day | +1.23% | still updating |
| Jpmorgan Chase (JPM) | three days earlier | +0.67% | final price |
| Jpmorgan Chase (JPM) | five days earlier | -0.92% | final price |
| Ishares Tr (TIP) | that day | -0.23% | still updating |
| Ishares Tr (TIP) | three days earlier | -0.40% | final price |
| Ishares Tr (TIP) | five days earlier | -0.37% | final price |
| Ishares Tr (TLT) | that day | 0.00% | still updating |
| Ishares Tr (TLT) | three days earlier | -1.03% | final price |
| Ishares Tr (TLT) | five days earlier | -0.20% | final price |
Congressional trades in the stocks in this story
- Sen. John Boozman bought Ishares Tr (IEF) (jointly held), worth $1,001 - $15,000 on 9 Sep 2026. That is 54 days before publication. Filed 21 Oct 2026. View the filing.
- Sen. Sheldon Whitehouse sold Jpmorgan Chase (JPM), worth $15,001 - $50,000 on 4 Sep 2026. That is 59 days before publication. Filed 1 Oct 2026. View the filing.
- Sen. Sheldon Whitehouse sold Jpmorgan Chase (JPM) (held by a spouse), worth $15,001 - $50,000 on 4 Sep 2026. That is 59 days before publication. Filed 1 Oct 2026. View the filing.
- Rep. Rohit Khanna bought Jpmorgan Chase (JPM) (held by a spouse), worth $100,001 - $250,000 on 27 Aug 2026. That is 67 days before publication. Filed 4 Sep 2026. View the filing.
- Rep. Rohit Khanna sold Bank Of America (BAC) (held by a spouse), worth $1,001 - $15,000 on 9 Sep 2026. That is 54 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Laurel Lee sold Bank Of America (BAC) (held by a spouse), worth $50,001 - $100,000 on 24 Aug 2026. That is 70 days before publication. Filed 16 Oct 2026. View the filing.
- Rep. Pete Sessions sold Walmart (WMT) (held by a spouse), worth $50,001 - $100,000 on 2 Oct 2026. That is 31 days before publication. Filed 27 Oct 2026. View the filing.
- Rep. Jonathan Jackson sold Walmart (WMT) (jointly held), worth $50,001 - $100,000 on 28 Sep 2026. That is 35 days before publication. Filed 19 Oct 2026. View the filing.
- Rep. Rohit Khanna bought Walmart (WMT) (held by a spouse), worth $1,001 - $15,000 on 25 Sep 2026. That is 38 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Pete Sessions sold Costco Wholesale (COST), worth $100,001 - $250,000 on 13 Oct 2026. That is 20 days before publication. Filed 27 Oct 2026. View the filing.
- Rep. Pete Sessions sold Costco Wholesale (COST) (held by a spouse), worth $250,001 - $500,000 on 2 Oct 2026. That is 31 days before publication. Filed 27 Oct 2026. View the filing.
- Rep. Rohit Khanna bought Costco Wholesale (COST) (held by a spouse), worth $1,001 - $15,000 on 25 Sep 2026. That is 38 days before publication. Filed 7 Oct 2026. View the filing.
Public disclosure filings, not a recommendation. The filing link is the source document. News use of these reports still sits under 5 U.S.C. § 13107(c).
Who gains and who loses around Ishares Tr (TLT)
Companies carried with this story
- TLT Ishares Tr
For “Using inflation to reduce US debt - Trump’s ‘soft default’ option,” Ishares Tr (TLT) is linked, with no stored direction, medium confidence. Reason on file: iShares 20+ Year Treasury Bond ETF: Treasury bond prices move with interest-rate expectations. Linked by “debt” (US interest rates) in this story
- IEF Ishares Tr
In “Using inflation to reduce US debt - Trump’s ‘soft default’ option,” Ishares Tr (IEF) is linked, with no stored direction, medium confidence. Reason on file: iShares 7-10 Year Treasury Bond ETF: Treasury bond prices move with interest-rate expectations. Linked by “debt” (US interest rates) in this story
- TIP Ishares Tr
In “Using inflation to reduce US debt - Trump’s ‘soft default’ option,” Ishares Tr (TIP) is linked, with no stored direction, medium confidence. Reason on file: iShares TIPS Bond ETF: it is a common hedge when prices rise. Linked by “inflation” (inflation and prices) in this story
- WMT Walmart
For “Using inflation to reduce US debt - Trump’s ‘soft default’ option,” Walmart (WMT) is linked, with no stored direction, medium confidence. Reason on file: Walmart (variety stores): big consumer-goods sellers feel price rises in costs and shopper demand. Linked by “inflation” (inflation and prices) in this story
- JPM Jpmorgan Chase
In “Using inflation to reduce US debt - Trump’s ‘soft default’ option,” Jpmorgan Chase (JPM) is linked, with no stored direction, medium confidence. Reason on file: JPMorgan Chase (national commercial banks): rate changes move lenders' margins and borrowers' demand. Linked by “debt” (US interest rates) in this story
- COST Costco Wholesale
In “Using inflation to reduce US debt - Trump’s ‘soft default’ option,” Costco Wholesale (COST) is linked, with no stored direction, medium confidence. Reason on file: Costco Wholesale (variety stores): big consumer-goods sellers feel price rises in costs and shopper demand. Linked by “inflation” (inflation and prices) in this story
- BAC Bank Of America
For “Using inflation to reduce US debt - Trump’s ‘soft default’ option,” Bank Of America (BAC) is linked, with no stored direction, medium confidence. Reason on file: Bank of America (national commercial banks): rate changes move lenders' margins and borrowers' demand. Linked by “debt” (US interest rates) in this story
- PG Procter & Gamble
For “Using inflation to reduce US debt - Trump’s ‘soft default’ option,” Procter & Gamble (PG) is linked, with no stored direction, medium confidence. Reason on file: The Procter & Gamble (soap, detergents, cleang preparations, perfumes, cosmetics): big consumer-goods sellers feel price rises in costs and shopper demand. Linked by “inflation” (inflation and prices) in this story
Ishares Tr (TLT)
Ishares Tr (TLT) is the company in “Using inflation to reduce US debt - Trump’s ‘soft default’ option,” the 2 Nov 2026 this story story.
Ishares Tr (TLT) is on the page because iShares 20+ Year Treasury Bond ETF: Treasury bond prices move with interest-rate expectations. Linked by “debt” (US interest rates) in this story
Ishares Tr (IEF) is here too. Its reason reads: iShares 7-10 Year Treasury Bond ETF: Treasury bond prices move with interest-rate expectations. Linked by “debt” (US interest rates) in this story
Dates in the story, and the Ishares Tr (TLT) price range
IEF traded between 88.64 and 91.23 across 20 sessions. The latest close on file is 90.08. TIP traded between 103.77 and 105.67 across 20 sessions. The latest close on file is 105.27. TLT traded between 76.44 and 81.94 across 20 sessions. The latest close on file is 79.46.
A simple score for Ishares Tr (TLT)
46 out of 100Price not final
“Using inflation to reduce US debt - Trump’s ‘soft default’ option” scores 46 out of 100. The score uses 1 sources, and 8 linked companies. The price is not final yet.