If you put any faith in classical supply and demand curves, you have to be at least somewhat concerned that a massive $7.6 trillion in Treasury debt matures in 2024 and must be refunded (rolled over). Let's toss into the mix another $3 trillion in new debt issuance. These trends are not sustainable. Prepare for something unpleasant in 2024. This recent bounce in TLT might be purely technical without strong fundamentals. What happens to TLT if the US dollar crashes in the fx markets? The world at large clearly grasps that our obscene debt must be monetized. It can never be paid down by taxes or economic growth alone.
$TLT$ Bearish
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