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Markets Are Quiet. Too Quiet.

Many Happy Returns

00:00

The US's Net Debt Issue

In 2020, there was net issuance of 4.3 trillion, which was really outstandingly large. The amount of net issuance is much less obviously because a lot of the bonds are going to mature. So they're looking at around 1.2 to 1.6 trillion per month in total. And that's been creeping up over the years.

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