Guys – NO ONE wants to hold debt right now.
Not mortgages, not governmental.
Bond buyers earn their paychecks over time from interest payments.
Risk of default is part of it, but when you factor in the time value of money as central banks obliterate currency value with excessive deficit spending, there is very little incentive to hold these notes for years on end.
That’s why Trump is asking FNMA to buy $200 billion worth of mortgage debt – no one wants it.
By the way, because of this debasement and real risk of elevated inflation in many countries in the future as central banks print and pump like addicts, we’ve changed our firm’s policy for our models and long-term investments on bond duration. For the average, long-term investor,…
— Uncle Milty’s Ghost (@his_eminence_j) January 19, 2026
⚠️China is still DUMPING US Treasuries:
China’s holdings of US government bonds dropped -$6.1 BILLION in November, to $682.6 billion, the lowest since September 2008, the midst of the Financial Crisis.
China has now sold -$76.4 BILLION of Treasuries since the start of 2025.… pic.twitter.com/T7nnF5Stuf
— Global Markets Investor (@GlobalMktObserv) January 19, 2026
Yields are blowing out in Japan (short & long-end) but the BoJ continues to take an apathetic approach to policy
Behind the 8-ball and no hike likely for January, Fed and BoJ policy at a crossroads #MacroEdge pic.twitter.com/8WAVJwOd6T
— MacroEdge (@MacroEdgeRes) January 19, 2026
BREAKING: The average price of ground beef in the US is now up to a record $6.67 per pound.
Prices have surged +72% since January 2020, when they stood at ~$3.88 per pound.
Over the same period, chicken breast prices have risen +36%.
Furthermore, coffee prices have surged +52%… pic.twitter.com/3HRaglhgXz
— The Kobeissi Letter (@KobeissiLetter) January 18, 2026