business πΈ US Treasury move signals dollar debasement
The US Treasury's announcement to increase longer-dated bond buybacks sent signals about high long-term yields. This move suggests a lack of willingness to control out-of-control fiscal policy deficits. The action is seen as financial engineering, mirroring Japan's path toward currency debasement. Following this, the Dollar dropped sharply to its lowest level versus emerging markets this year. Markets are now primed for debasement, similar to the currency crisis seen with the Yen. π