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What Bond Managers Have to Do to Manage the Yield Curve?
The government has an incentive to try to issue the long duration stuff as much as they can. But it appears like a lot of these stable coins, and i'm sure a lot of the the uro dollar debt or the ah, you know, just offshore dollars, have an incentive now to consume shorter duration things. It almost seems li a dicotome between what the government wants and what everybody else might be demanding in the market.