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‘The Single Most Important’ De-Dollarization Canary
The writing's on the wall. You just have to be able to read Japanese.
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It appears this timely note came before the 20y auction, as if to put a “!” on the afternoon.
Yeah but honestly, that 20-year sale wasn’t really that bad. And that’s what made the subsequent bearish price action even more disturbing. Here: https://heisenbergreport.com/2025/05/21/well-hello-liz/
Rep. Brendan Boyle just announced that according to the CBO, the big, beautiful bill that will be voted on in the House contains $535 billion cuts to Medicare.TO MEDICARE. That’s MediCARE, folks. Not MediCAID.
That’s mom and dad, grampy and meemaw, Uncle Fud and Aunt Babs, basically all of the old folks YOU know.
It’s easy to sell cuts to MediCAID to the conservative crowd, who reflexively look at poor people as grist for their favorite economic fantasies. But $535 billion in cuts to Medicare? You are messing with your heartbeat on that one. Or you should be.