By reducing the demand and supply of loans, the United States was forced into a recession, which resulted in an acceleration of inflation and interest rates, ultimately leading to the election of Ronald Reagan. This is also reflected in financial companies' bond prices being higher due to falling interest rate levels. Citigroup's latest 10-Q indicates that an increase of 100 basis points in short-term rates will lead to reversal of $3.9 billion in its securities portfolio.