TREE NEWS update: US Treasury debt is about to hit $40 trillion, with interest costs becoming the largest federal expense, pressuring bond markets. BofA’s Michael Hartnett recommends going long gold as the top hedge against dollar depreciation, bond collapse, and asset inflation, while warning of a bearish steepening yield curve and AI debt issuance crowding out Treasury buyers.
US Debt Nears $40T; BofA’s Hartnett Says Gold is Best Bet
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