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Treasury Yields Reverse a Day After the Buyback News
Yields reversed hard this morning, with the 10-year and 30-year climbing almost right back to where they were before yesterday's Bessent buyback news, as if nothing happened. However, this is still a liquidity story, and a signal of more fiscal dominance, although it's not actual dollar printing. This is still part of the debasement trade in my opinion. In fact, I believe yesterday's buyback news is also bullish for long duration tech stocks, not just bullish for Bitcoin and gold.
I get into the WSJ visuals on who holds US Treasuries, US debt crossing $40 trillion, and why the AI boom and…
The skinny
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