The US government is becoming increasingly dependent on private investors to finance its growing debt burden: Privately held US Treasury debt maturing within 1 year is up to a record $8.3 trillion. This figure has DOUBLED over the last 5 years, reflecting the government's growing reliance on short-term financing from private investors. As more debt shifts into Treasury bills, a larger amount must be refinanced every year, leaving borrowing costs increasingly sensitive to interest rates and investor demand. At the same time, foreign central banks are reducing their share of Treasury holdings, making private investors absorb a larger portion of new issuances. As a result, the Treasury market is becoming increasingly dependent on investor demand and liquidity conditions rather than the stable long-term buyers that have traditionally anchored it. With US public debt at an all-time high, even modest disruptions in funding markets could have an outsized impact on borrowing costs. Treasury refinancing risks are intensifying.

US inflation is red hot. 1. CPI Inflation: 3.8%, highest since May 2023 2. PCE Inflation: 3.8%, highest since May 2023 3. PPI Inflation: 6.0%, highest since March 2023 4. Services Inflation: 3.4%, highest since Sept 2025 5. Shelter Inflation: 3.3%, highest since Sept 2025 6. Energy Inflation: 17.9%, highest since Sept 2022 7. Gasoline Inflation: 28.4%, highest since June 2022 Inflation is reaccelerating across nearly every major category of the US economy. Are you positioned accordingly?

Median rent in Manhattan has hit $5,000/month for the first time ever, per MorePerfectUS.