🔴 U.S. interest expenses have exceeded $1.1 trillion 📈, as a third of all government debt faces a refinancing wall within 12 months. Higher yields of around 5.3% continue to pull capital out of high-beta risk markets 📉, while federal deficits swell to nearly $2 trillion. Crypto market liquidity is facing immediate headwinds, even as long-term debasement risks strengthen the case for hard-asset hedges.

Will rising U.S. debt-servicing costs force the Fed to return to yield curve control, or will high rates suppress risk assets for longer than expected? 👇

#macroeconomics #treasuries #bitcoin #liquidity #deficits