I would like to express my sincere thanks to Carl, David, and Leslie for an engaging and thoughtful discussion. For those who might be interested in watching this morning's exchange alongside @carlquintanilla, @davidfaber, and @LesliePicker, the video references are provided below.

https://www.cnbc.com/video/2026/08/19/allianzas-mohamed-el-erian-on-the-treasury-department-doubling-the-size-of-long-end-bond-buybacks.html

https://www.cnbc.com/video/2026/08/19/watch-cnbcs-full-interview-with-allianzas-mohamed-el-erian.html

#economy #markets @cnbc