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BTC101: 4th Quarter Macro Overview w/ Luke Gromen (Bitcoin Podcast)
We Study Billionaires - The Investor’s Podcast Network
The Most Powerful Buyers in US Treasuries Are Bailing All at Once
US banks, foreign central banks and the Fed have been three biggest marginal buyers of treasuries over the last eight years in different sequencing. The two biggest buyers were the UK and the Cayman Islands, which is hedge funds and hedge funds. By the time you get down to the hedge funds who are financing you, they are fickle creditors. And they don't like to lose money. So that sets up a situation where if your marginal creditors are too many hedge funds, then you see the 10 year treasury, you'll start to trade like hedge funds are trading it.
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