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Replying to Avatar Lyn Alden

Many people ask why.

The short answer is because nothing stops this train.

The longer answer is that 1) the rest of the world isn’t buying as many Treasuries anymore, 2) investors prefer cash to Treasuries, and 3) there are now balance of payments issues and so the United Stated has EM-like characteristics where stocks and bonds can struggle together due to capital outflows.

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LibertyFirst 8mo ago

I was under the impression no one wants long dated treasuries.

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