Issuances of US Treasuries are now at pandemic levels:
We saw nearly $7 trillion in gross issuances of US Treasures in just 3 months during 2023.
For the entire year of 2023, a whopping $23 TRILLION in US Treasuries were issued.
US federal debt is rising by $1 trillion every 90 days right now.
US government spending as a percentage of GDP is at World War 2 levels.
Why are Treasury issuances and deficits at record levels if we are on track for a "soft landing?"
HT
[The Kobeissi Letter on X]
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