Somewhere right now, someone is asking a parent, a sibling, or a friend to co-sign a loan. It's one of the oldest financial arrangements there is: lend your credibility to someone who hasn't built enough of their own yet.
New proof-of-stake networks run into a version of the same problem. They can ship solid code, real use cases, and a sensible roadmap, and still struggle to be trusted with meaningful value — because trust isn't something code produces on its own. It's earned slowly, through ye...
10Y & 30Y Treasuries: real drawdown 1926-2026.
Not the worst ever. But arguably the fastest.
Roll strategy: buy at maturity, hold one month, collect coupon, sell, reinvest in fresh bond at same maturity. Repeat.
(Pre-1977 30Y imputed from 10Y relationship)
Speed matters. When duration gets hit this hard this fast, something usually breaks. We just haven't found it yet.
Real drawdown chart on 10yr & 30yr Treasuries from 1926 to now — not the worst ever, but arguably the fastest.
That's the key point. Speed matters. When you're getting hit this hard this fast, it breaks things. Portfolios, pensions, bank balance sheets, duration models — all built for a different regime.
People love to say "bonds always come back." Sure. But the path matters when you're levered, when you're a pension fund, when you're an insurance company with liabilities. The speed of the mov...
Foreign central banks now hold more gold than US Treasuries — despite sitting on nearly $10 trillion in US debt. This is quietly reshaping the global monetary system.
It's not a formal gold standard. No pegs, no fixed exchange rates. But it's arguably better: voluntary accumulation in open markets, driven by sovereign choice, not Bretton Woods mandates.
Central banks are diversifying away from pure dollar dependence without abandoning it. Gold offers no counterparty risk, no default risk, and ...
BITCOIN LIQUIDATION HEATMAP UPDATE
Following Bitcoin's reclaim of $63,000, we've taken a look across the 12-hour, 24-hour and 3-day liquidation heatmaps to identify where the largest pools of liquidity are building.
The data tells a very clear story.
Short-term liquidity is building above price.
On both the 12-hour and 24-hour heatmaps, the most significant concentration of short liquidations sits around $64,000.
This is important because it also aligns with the key resistance level we've ...