TLDR: We will use t-bills to fund the governments $1.45 Trillion deficit next year since it's cheaper and we will enter an election super cycle. At the same time, Warsh is looking to shrink the Feds balance sheet which will over supply longer dated treasuries; thereby potentially inverting the yield curve. While the US and Japan banded together to bail out the Yen, Japan/China (US' largest holder of treasuries) is starting to buy gold as the deficit grows. Fortune Article submitted by &#
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