US Debt Hits Record $39.5T as Treasury Readies Refunding
The headline is a $39.5T nominal high, but the real signal for markets is what the next Treasury refunding signals about issuance vs. duration mix.
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The headline is a $39.5T nominal high, but the real signal for markets is what the next Treasury refunding signals about issuance vs. duration mix.
A typical American home that cost more than 50 BTC in 2020 now costs just 5, a collapse that reframes the last five years of supposed housing wealth as dollar debasement, not asset gain.