To give you a sense of just how differently the front end and long end of the yield curve are behaving.

2s are 13 bps ABOVE their levels from Thursday 3/2, six days ago.

10s are 10 bps BELOW their 3/2 levels.

Expectations are firm for higher policy rates, followed by lower rates. 2s trade with a 5 handle, yet 10s struggle to stay above 4%. It shows the unwillingness of investors to part with their Treasuries despite the higher discount rates.

This is typical late cycle fixed income market behavior.

Going to rewatch Mighty Ducks tonight. That’s it. That’s the post.

kinda crazy people are willing to lend the us gov money for 30 years at ~4%

based on their track record I wouldn’t even rent them an apartment

Reason why?

If you own power plants producing excess energy, you should be mining Bitcoin.

Shitcoiners = fiat maxis.

Bitcoiners = sound money maxis.

You got the wrong Swan at the handle for thay chant.

So what’s happening this weekend?

The majority of traders, and overseers of the broader financial layer in general, don't care too much about underlying fundamentals. Instead, they focus on market structure and want to trade digital pieces of paper within a multi-week window.

As such, many of them look at "blockchain technology" and ask "how can this improve trading settlement times from three days to a few hours?" That's why a lot of Wall St people are into "crypto". They view it as a better set of procedures for fiat settlement.

Very few are interested in changing the underlying money. Few know what money is. This remains a niche focus, of which I'm all in.

Bitcoin does not have a fee problem.

Bitcoin has a small thinker problem.

Most people are simply not creative enough to think thru the future of Bitcoin.

Be humble and expect the unexpected.

What’s your favorite beer and why is it Miller Lite?

No algos on Nostr.

I’m starting to understand why there are more positive vibes here. Click/view bait is maximized by negative and shocking content. Nostr doesn’t optimize for clicks it’s optimized to let the plebs say what we want without a fear of censorship.

My mind is opening to this and I like it 🤙