--- title: Syz The Moment | Central banks (4) description: Central banks | Syz The Moment (4) --- [![Syz Private banking](https://blog.syzgroup.com/hs-fs/hubfs/Logo.png?width=140&name=Logo.png "Syz Private banking")](https://www.syzgroup.com/fr) ## **Thinking** out loud [Subscribe](https://25733253.hs-sites-eu1.com/newsletter-signup?hsLang=en) [![Contact Us](https://hubspot-no-cache-eu1-prod.s3.amazonaws.com/cta/default/25733253/3d762f49-4e71-4f99-97b1-bf6781ef3da2.png)](https://hubspot-cta-redirect-eu1-prod.s3.amazonaws.com/cta/redirect/25733253/3d762f49-4e71-4f99-97b1-bf6781ef3da2) - [OUR SERVICES](https://www.syzgroup.com/en/private-banking) - [ABOUT SYZ](https://www.syzgroup.com/en/about/welcome-to-syz) - [CAREERS](https://www.syzgroup.com/en/careers) - [PRESS](https://www.syzgroup.com/en/news) - [Blog Homepage](https://blog.syzgroup.com) - [Slow Food for Thought](https://blog.syzgroup.com/slow-food-for-thought) - [Focus](https://blog.syzgroup.com/slow-food-for-thoughts/tag/focus) - [Asset allocations Insights](https://blog.syzgroup.com/slow-food-for-thoughts/tag/asset-allocation-insights) - [Market Outlook](https://blog.syzgroup.com/slow-food-for-thoughts/tag/market-outlook) - [Swiss Perspectives](https://blog.syzgroup.com/slow-food-for-thoughts/tag/swiss-perspectives) - [Syz the moment](https://blog.syzgroup.com/syz-the-moment) - [Crypto corner](https://blog.syzgroup.com/crypto-corner) - [Syz AI Insights](https://blog.syzgroup.com/syz-ai-insights) - [Fast Food for Thought](https://blog.syzgroup.com/fast-food-for-thought) - [The week in seven charts](https://blog.syzgroup.com/fast-food-for-thoughts/tag/the-week-in-seven-charts) - [Flash](https://blog.syzgroup.com/fast-food-for-thoughts/tag/flash) - [Fixed Income Weekly](https://blog.syzgroup.com/fast-food-for-thought/tag/weekly-fixed-income) - [Equity Weekly](https://blog.syzgroup.com/fast-food-for-thought/tag/weekly-equities) - [Global markets outlook](https://blog.syzgroup.com/fast-food-for-thoughts/tag/global-markets-outlook) - [CONTACT](https://www.syzgroup.com/en/contact-us/form) - [ENGLISH](https://www.syzgroup.com/) - [FRANÇAIS](https://www.syzgroup.com/fr) - [Slow Food for Thought](https://blog.syzgroup.com/slow-food-for-thought) - [Focus](https://blog.syzgroup.com/slow-food-for-thoughts/tag/focus) - [Asset allocations Insights](https://blog.syzgroup.com/slow-food-for-thoughts/tag/asset-allocation-insights) - [Market Outlook](https://blog.syzgroup.com/slow-food-for-thoughts/tag/market-outlook) - [Swiss Perspectives](https://blog.syzgroup.com/slow-food-for-thoughts/tag/swiss-perspectives) - [Fast Food for Thought](https://blog.syzgroup.com/fast-food-for-thought) - [Flash](https://blog.syzgroup.com/fast-food-for-thoughts/tag/flash) - [Weekly Fixed Income](https://blog.syzgroup.com/fast-food-for-thought/tag/weekly-fixed-income) - [The week in seven charts](https://blog.syzgroup.com/slow-food-for-thoughts/tag/the-week-in-seven-charts) - [Global markets outlook](https://blog.syzgroup.com/fast-food-for-thoughts/tag/global-markets-outlook) - [Weekly Equities](https://blog.syzgroup.com/fast-food-for-thought/tag/weekly-equities) - [Syz the moment](https://blog.syzgroup.com/syz-the-moment) - [Crypto corner](https://blog.syzgroup.com/crypto-corner) - [Syz AI Insights](https://blog.syzgroup.com/syz-ai-insights) - [Our Services](https://www.syzgroup.com/en/private-banking) - [About Syz](https://www.syzgroup.com/en/about/welcome-to-syz) - [Careers](https://www.syzgroup.com/en/careers) - [Press](https://www.syzgroup.com/en/news) - [Contact](https://www.syzgroup.com/en/contact-us/form) - [English](https://www.syzgroup.com/) - [Français](https://www.syzgroup.com/fr) ## **Sign-up** for our newsletter This website uses cookies to enhance user navigation and to collect statistical data. 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Bank Syz Ltd. accepts no liability for any loss arising from the use of this document. ## Straight from the Desk # **Syz** the moment Live feeds, charts, breaking stories, all day long. - [All](https://blog.syzgroup.com/syz-the-moment) - [equities](https://blog.syzgroup.com/syz-the-moment/tag/equities) - [United States](https://blog.syzgroup.com/syz-the-moment/tag/united-states) - [Macroeconomics](https://blog.syzgroup.com/syz-the-moment/tag/macroeconomics) - [Food for Thoughts](https://blog.syzgroup.com/syz-the-moment/tag/food-for-thoughts) - [markets](https://blog.syzgroup.com/syz-the-moment/tag/markets) - [Central banks](https://blog.syzgroup.com/syz-the-moment/tag/central-banks) - [bitcoin](https://blog.syzgroup.com/syz-the-moment/tag/bitcoin) - [Fixed Income](https://blog.syzgroup.com/syz-the-moment/tag/fixed-income) - [geopolitics](https://blog.syzgroup.com/syz-the-moment/tag/geopolitics) - [AI](https://blog.syzgroup.com/syz-the-moment/tag/ai) - [Asia](https://blog.syzgroup.com/syz-the-moment/tag/asia) - [gold](https://blog.syzgroup.com/syz-the-moment/tag/gold) - [europe](https://blog.syzgroup.com/syz-the-moment/tag/europe) - [Commodities](https://blog.syzgroup.com/syz-the-moment/tag/commodities) - [investing](https://blog.syzgroup.com/syz-the-moment/tag/investing) - [Technology](https://blog.syzgroup.com/syz-the-moment/tag/technology) - [Crypto](https://blog.syzgroup.com/syz-the-moment/tag/crypto) - [technical analysis](https://blog.syzgroup.com/syz-the-moment/tag/technical-analysis) - [nvidia](https://blog.syzgroup.com/syz-the-moment/tag/nvidia) - [oil](https://blog.syzgroup.com/syz-the-moment/tag/oil) - [china](https://blog.syzgroup.com/syz-the-moment/tag/china) - [ETF](https://blog.syzgroup.com/syz-the-moment/tag/etf) - [earnings](https://blog.syzgroup.com/syz-the-moment/tag/earnings) - [Forex](https://blog.syzgroup.com/syz-the-moment/tag/forex) - [energy](https://blog.syzgroup.com/syz-the-moment/tag/energy) - [banking](https://blog.syzgroup.com/syz-the-moment/tag/banking) - [magnificent-7](https://blog.syzgroup.com/syz-the-moment/tag/magnificent-7) - [Volatility](https://blog.syzgroup.com/syz-the-moment/tag/volatility) - [Alternatives](https://blog.syzgroup.com/syz-the-moment/tag/alternatives) - [Real Estate](https://blog.syzgroup.com/syz-the-moment/tag/real-estate) - [apple](https://blog.syzgroup.com/syz-the-moment/tag/apple) - [google](https://blog.syzgroup.com/syz-the-moment/tag/google) - [emerging-markets](https://blog.syzgroup.com/syz-the-moment/tag/emerging-markets) - [Middle East](https://blog.syzgroup.com/syz-the-moment/tag/middle-east) - [switzerland](https://blog.syzgroup.com/syz-the-moment/tag/switzerland) - [tesla](https://blog.syzgroup.com/syz-the-moment/tag/tesla) - [amazon](https://blog.syzgroup.com/syz-the-moment/tag/amazon) - [United Kingdom](https://blog.syzgroup.com/syz-the-moment/tag/united-kingdom) - [microsoft](https://blog.syzgroup.com/syz-the-moment/tag/microsoft) - [assetmanagement](https://blog.syzgroup.com/syz-the-moment/tag/assetmanagement) - [ethereum](https://blog.syzgroup.com/syz-the-moment/tag/ethereum) - [russia](https://blog.syzgroup.com/syz-the-moment/tag/russia) - [meta](https://blog.syzgroup.com/syz-the-moment/tag/meta) - [Healthcare](https://blog.syzgroup.com/syz-the-moment/tag/healthcare) - [Industrial-production](https://blog.syzgroup.com/syz-the-moment/tag/industrial-production) - [ESG](https://blog.syzgroup.com/syz-the-moment/tag/esg) - [Global Markets Outlook](https://blog.syzgroup.com/syz-the-moment/tag/global-markets-outlook) - [Turkey](https://blog.syzgroup.com/syz-the-moment/tag/turkey) - [bankruptcy](https://blog.syzgroup.com/syz-the-moment/tag/bankruptcy) - [inflation](https://blog.syzgroup.com/syz-the-moment/tag/inflation) - [brics](https://blog.syzgroup.com/syz-the-moment/tag/brics) - [Market Outlook](https://blog.syzgroup.com/syz-the-moment/tag/market-outlook) - [performance](https://blog.syzgroup.com/syz-the-moment/tag/performance) - [africa](https://blog.syzgroup.com/syz-the-moment/tag/africa) - [LLM](https://blog.syzgroup.com/syz-the-moment/tag/llm) - [Global](https://blog.syzgroup.com/syz-the-moment/tag/global) - [Market News](https://blog.syzgroup.com/syz-the-moment/tag/market-news) - [Weekly Equities](https://blog.syzgroup.com/syz-the-moment/tag/weekly-equities) Show more 2 Sep 2026 - - - #### When was the last time any Fed chairman raised rates with $8T in USTs (over 25% of US GDP) maturing in \<1 year? Source: Luke Gromen [#Central banks|](https://blog.syzgroup.com/syz-the-moment/tag/central-banks) [#United States](https://blog.syzgroup.com/syz-the-moment/tag/united-states) ![When was the last time any Fed chairman raised rates with $8T in USTs (over 25% of US GDP) maturing in \<1 year?](https://blog.syzgroup.com/hubfs/1788299725530.jpg) ![When was the last time any Fed chairman raised rates with $8T in USTs (over 25% of US GDP) maturing in \<1 year?](https://blog.syzgroup.com/hubfs/1788299725530.jpg) 25 Aug 2026 - - - #### The Fed owns more than HALF of Treasuries maturing in 10–15 years. Of the roughly $1.03 trillion outstanding in this maturity bucket, the Federal Reserve holds around $540 billion. Why? Much of it is the legacy of QE after 2008 and especially COVID, when the Fed bought trillions of dollars of long-duration Treasuries. Those bonds have now rolled down the curve. And the bigger picture is striking: 👉 The Fed still owns roughly $1.6 trillion of Treasuries with 10+ years to maturity. That means a massive amount of duration remains outside private investors’ hands. But as the Fed’s portfolio gradually shrinks, someone else must absorb that supply. And unlike the Fed, private investors care about price. So the key question isn’t just how much debt Washington will issue. It’s who will buy it — and at what yield? Source: TreasuryBonds.com [#Fixed Income|](https://blog.syzgroup.com/syz-the-moment/tag/fixed-income) [#Central banks](https://blog.syzgroup.com/syz-the-moment/tag/central-banks) ![The Fed owns more than HALF of Treasuries maturing in 10–15 years.](https://blog.syzgroup.com/hubfs/1787604033026.jpg) ![The Fed owns more than HALF of Treasuries maturing in 10–15 years.](https://blog.syzgroup.com/hubfs/1787604033026.jpg) 25 Aug 2026 - - - #### Another bullish development for gold In 2022, the US froze hundreds of billions in Russian assets. Gold then rallied from $1,800 to $5,500. Now Bessent threatens to cut banks and governments doing business with Iran out of the dollar system. This might push sovereign countries / central banks to buy more gold Source: Karel Mercx [#Central banks|](https://blog.syzgroup.com/syz-the-moment/tag/central-banks) [#gold](https://blog.syzgroup.com/syz-the-moment/tag/gold) ![Another bullish development for gold](https://blog.syzgroup.com/hubfs/1787606532689.jpg) ![Another bullish development for gold](https://blog.syzgroup.com/hubfs/1787606532689.jpg) 24 Aug 2026 - - - #### The $40 trillion US debt problem may be one of the strongest arguments for gold - Advait Arora on X US interest costs are approaching $1.2 trillion this fiscal year, while the deficit has already reached $1.8 trillion in just 10 months. As Ray Dalio warns, when debt grows faster than the economy, the eventual choices become uncomfortable: higher taxes, spending cuts, financial repression… or more money creation. Meanwhile, gold supply remains remarkably constrained. Central banks bought 860+ tonnes in 2025 and another 244 tonnes in Q1 2026, while mine production increased just 1%. Here’s the fascinating part: Global financial wealth: ~$333 trillion Value of all gold ever mined: ~$31 trillion A mere 1 percentage-point increase in global portfolio allocations to gold would represent roughly $3.3 trillion. That’s almost 6x total annual gold demand. Gold doesn’t need everyone to become bullish. It just needs investors to want slightly more of something that remains scarce. Source: Advait Arora [#Central banks|](https://blog.syzgroup.com/syz-the-moment/tag/central-banks) [#United States](https://blog.syzgroup.com/syz-the-moment/tag/united-states) ![The $40 trillion US debt problem may be one of the strongest arguments for gold - Advait Arora on X](https://blog.syzgroup.com/hubfs/1787501610978.jpg) ![The $40 trillion US debt problem may be one of the strongest arguments for gold - Advait Arora on X](https://blog.syzgroup.com/hubfs/1787501610978.jpg) 24 Aug 2026 - - - #### Federal Reserve now owns more than half of all U.S. Treasuries maturing within the next 10-15 years Source: Barchart [#Central banks|](https://blog.syzgroup.com/syz-the-moment/tag/central-banks) [#United States](https://blog.syzgroup.com/syz-the-moment/tag/united-states) ![Federal Reserve now owns more than half of all U.S. Treasuries maturing within the next 10-15 years](https://blog.syzgroup.com/hubfs/1787551304764.jpg) ![Federal Reserve now owns more than half of all U.S. Treasuries maturing within the next 10-15 years](https://blog.syzgroup.com/hubfs/1787551304764.jpg) 21 Aug 2026 - - - #### Yesterday, the Federal Reserve has released the minutes from its July FOMC meeting. Several officials favored a rate hike, while many said further tightening may be needed if inflation does not decline. [#Central banks|](https://blog.syzgroup.com/syz-the-moment/tag/central-banks) [#United States](https://blog.syzgroup.com/syz-the-moment/tag/united-states) ![Yesterday, the Federal Reserve has released the minutes from its July FOMC meeting.](https://blog.syzgroup.com/hubfs/1787257644906.jpg) ![Yesterday, the Federal Reserve has released the minutes from its July FOMC meeting.](https://blog.syzgroup.com/hubfs/1787257644906.jpg) 20 Aug 2026 - - - #### One Treasury announcement. A violent move across bonds, gold, silver and crypto. The US Treasury announced it will at least double buybacks of long-dated Treasuries, from $2bn to $4bn per operation. Markets reacted immediately: 📉 30Y Treasury yield: 5.34% → 5.18% 🥇 Gold: +3.1% 🥈 Silver: +4.1% ₿ Bitcoin: +7.8% Ξ Ethereum: +10% 💵 Dollar: -0.7% Why does it matter? The US already spends roughly $1.4 trillion annually on interest, while trillions of low-cost debt must be refinanced at much higher rates. And this isn't just an American problem: long-term government yields are surging globally. The biggest wildcard may be Japan. As Japanese yields rise, domestic investors have less incentive to finance US and European governments. 👉 The bond market is increasingly becoming the key macro risk—and falling yields remain rocket fuel for gold and crypto. Source: Bull Theory [#Fixed Income|](https://blog.syzgroup.com/syz-the-moment/tag/fixed-income) [#Central banks](https://blog.syzgroup.com/syz-the-moment/tag/central-banks) ![One Treasury announcement. A violent move across bonds, gold, silver and crypto.](https://blog.syzgroup.com/hubfs/1787171835898.jpg) ![One Treasury announcement. A violent move across bonds, gold, silver and crypto.](https://blog.syzgroup.com/hubfs/1787171835898.jpg) 20 Aug 2026 - - - #### Is the US quietly moving toward QE and Yield Curve Control—without calling it either? Here’s the mechanism: 1️⃣ The Treasury issues more short-term T-bills. 2️⃣ The Fed buys bills, injecting liquidity into the system. 3️⃣ The Treasury uses its cash and buyback program to retire longer-dated Treasuries. The result? 👉 More demand at the long end. 👉 Less duration risk in the market. 👉 Potential downward pressure on long-term yields. Technically, this isn't traditional QE because the Fed isn't directly buying 10Y or 30Y Treasuries. But economically, the distinction could become increasingly blurred. With US interest costs exploding and long-term yields above 5%, policymakers have a powerful incentive to prevent the long end from spiraling higher. Call it buybacks. Call it liquidity management. Call it maturity transformation. But if the objective increasingly becomes controlling long-term borrowing costs… We may eventually get Yield Curve Control—just with a different name tag Source: Lukas Ekwueme @ekwufinance Hoisington Investment Management [#Central banks|](https://blog.syzgroup.com/syz-the-moment/tag/central-banks) [#United States](https://blog.syzgroup.com/syz-the-moment/tag/united-states) ![Is the US quietly moving toward QE and Yield Curve Control—without calling it either?](https://blog.syzgroup.com/hubfs/1787172461567.jpg) ![Is the US quietly moving toward QE and Yield Curve Control—without calling it either?](https://blog.syzgroup.com/hubfs/1787172461567.jpg) ❮❮ [❮](https://blog.syzgroup.com/syz-the-moment/tag/central-banks/page/3) [2](https://blog.syzgroup.com/syz-the-moment/tag/central-banks/page/2) [3](https://blog.syzgroup.com/syz-the-moment/tag/central-banks/page/3) [4](https://blog.syzgroup.com/syz-the-moment/tag/central-banks/page/4) [5](https://blog.syzgroup.com/syz-the-moment/tag/central-banks/page/5) [6](https://blog.syzgroup.com/syz-the-moment/tag/central-banks/page/6) [❯](https://blog.syzgroup.com/syz-the-moment/tag/central-banks/page/5) [❯❯](https://blog.syzgroup.com/syz-the-moment/tag/central-banks/page/73?hsLang=en) ## **Thinking** out loud Sign up for our weekly email highlighting the most popular posts. 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