Blog Archive

The Debt Battle Behind Higher Yields

AI infrastructure borrowing is quietly competing with Treasury debt, raising the cost of capital and reshaping who can still afford to invest.

Why Treasury Buybacks Failed When They Mattered

Treasury buybacks are supposed to support long-term bonds. In an inflation scare, their small scale can instead expose a deeper demand problem.

Why Treasury Buybacks Can Raise Yields

Treasury buybacks look like support for long bonds, but their small scale and adverse selection can make the market less liquid and push yields higher.

The Debt Wall Hidden in the Yield Curve

The 2-year and 3-year Treasury surge matters because it reprices corporate refinancing before the 10-year yield ever breaks higher.

The Yield Curve Is Pricing a Refinancing Trap

The 2-year and 3-year Treasury spike matters because it raises the cost of corporate refinancing before the 10-year yield even breaks higher.

Hyperscalers Are Repricing Treasury Risk

Why AI infrastructure funding can keep long Treasury yields high even after the Fed delivers the hike markets expected.

The Treasury’s Most Expensive Odd Lot

Why the 20-year Treasury’s liquidity discount quietly raises government borrowing costs and hands dealers a structural advantage.

Treasury Buybacks Cannot Buy Cheaper Mortgages

Why buying back discounted long bonds can raise the government’s refinancing cost and fail to lower mortgage rates.

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