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The Everything Bubble Has Finally Popped.
How far are we from the final end game? Consider this. Since the turn of the COVID-19 era, the amount of marketable US Treasury debt outstanding has increased by $3 trillion, almost all of it from short term debt due in less than 6 months. Of the $20 trillion in total Treasuries outstanding, $5 trillion is due within half a year of issuance. All of that new debt has to be paid off with even newer short term debt, to the point that the US Treasury has actually failed to raise a single dime on net from these short term Treasury bills since June. See below:
https://seekingalpha.com/checkout?service_id=mp_1347
How far are we from the final end game? Consider this. Since the turn of the COVID-19 era, the amount of marketable US Treasury debt outstanding has increased by $3 trillion, almost all of it from short term debt due in less than 6 months. Of the $20 trillion in total Treasuries outstanding, $5 trillion is due within half a year of issuance. All of that new debt has to be paid off with even newer short term debt, to the point that the US Treasury has actually failed to raise a single dime on net from these short term Treasury bills since June. See below:
https://seekingalpha.com/checkout?service_id=mp_1347
