fejau

“The dovish signals keep firing. As mentioned above in the last roundup, the policy is clear as day on the following: - marginal macro policy is moving towards the Treasury - The government will ensure the AI buildout goes off without a hitch. Since new marginal buildout is being funded with debt, the long end must be kept in check through that. - The change to the word changes in QRA a couple weeks ago was a clear signal that Bessent is happy to outdo Yellen in supporting the long end - Because of this, I’m liking debasement trades again like gold and Bitcoin. Gold up 3% today. Think Bitcoin will do well too. The game is rigged, the vol controllers are alive and well. Don’t fight it :)”