27 Oct 2023
Adding to that Great Rotation theme is this chart
US households account for 73% of Treasury bond buying in 2022-2023 (so far) A lot of pain being experienced for those not willing to hold to maturity amid this bond blood bath... Source: Markets & Mayhem, Goldman Sachs
24 Oct 2023
Amazing chart by CrossBorderCapital
Treasuries out, gold in?
20 Oct 2023
China has cut its holdings in US Treasuries to $805bn, the lowest level since 2009
Beijing has been selling $502bn in Treasuries in the past decade, & pace of Chinese selling has been accelerated recently. Source: Bloomberg, HolgerZ
19 Oct 2023
The iShares 20+ year Treasury Bond ETF (TLT) now down 51% from All-Time-High
Source: Bloomberg, HolgerZ
16 Oct 2023
Ownership breakdown of the US Treasury market ($26 trillion)
Source: Goldman Sachs, TME
13 Oct 2023
The Treasury Yield Curve has been steepening (i.e. uninverting) for 5 straight weeks, the longest streak in more than 25 years
Source: DB, Barchart
11 Oct 2023
The gap between returns in tech stocks and US Treasuries has widened significantly since June
As bond prices continue to plummet but equities hold higher, this gap is getting larger. Source: BofA, The Kobeissi Letter
10 Oct 2023
The US has already issued $1.76 trillion in net Treasury securities through September
It will be well over $2 trillion by year-end, trailing only 2020 for the largest net debt issuance of any year in history. Source: Charlie Bilello
