Each new paradigm seems less sustainable than the last. We know how this story ends, but we have no idea how many more chapters the hack author is going to jam in.

Undisciplined

Doesn’t seem to be much demand for long term paper. Everyone wants those juicy short term treasuries. Not sure where we go from here. Fed wants to slow rate cuts because it is worried about inflation roaring back but the Treasury has issued a shit ton of short term treasuries the past couple years that will need to be rolled over. Something has to give. 

grayruby

econ

Is the Treasury Market ok?

Maybe. I feel like the whole time I've been following this stuff, people have been wrongly freaking out about the debt and the flight to safety aspect has always prevailed.

Maybe this time is different. We'll see. I'd be more concerned if the rest of the world were stable and the Treasury market was weird.