Nothing could have been more ingeniously designed to maximize the suffering, and also to insure that as few people as possible escape the common misfortune.
So, weโve gone from โI am the house now, come at me, Broโ to โI canโt control the bond marketโ in less than four weeks
Life comes at you fast.
#BurningDownTheHouse
https://t.co/2GjLaFx4lB
Simon Andriesz, the British banker who uncovered 2018 emails linking Howard Lutnick to Jeffrey Epsteinโs Adfin investment and took them to House Oversight, has died at age 57. BBC reported his findings. Lutnick later admitted to visiting the island but not the business dealings.
๐จ GOLDMAN SACHS DROPS DOOMSDAY STATEMENT: U.S. BONDS HAVE NO BUYERS
Goldman Sachs just admitted the long end of U.S. Treasury market is โtotally bidless.โ
Translation: almost nobody wants the 10- to 30-year debt the U.S. is trying to sell.
No buyers. None. Zero.
While Treasury Secretary Scott Bessent tells Congress weโre in an โilliquid period,โ doubles then triples long-bond buybacks, taps the General Treasury Account to fund it and openly says โI am the house.โ
Yields are surging anyway. The 10-year has pushed toward 5.3% and the 30-year is even higher, levels not seen in years while Japan, one of the biggest foreign holders, keeps selling Treasuries and bringing money home.
This was exactly warned by Japanโs @yutokanzakireal that the measures being prepared by Bank of Japan will affect the lives of billions of people and apologized to people of the West.
Soon after, Scott Bessent intervened and effectively took over BoJ operations which Japanese policymakers heavily criticized.
If the same โbidlessโ condition hits the short-dated treasuries market, the entire U.S. debt market (and global) collapses.
The U.S. debt crisis will turn into a global liquidity crisis.