To The Moon

When the U.S. Department of the Treasury scales up its debt buyback program to $6 billion, textbook bond market mechanics suggest that direct price support should elevate Treasury security prices and drive yields down. However, financial markets frequently experience a counterintuitive surge in long-term yields following such announcements. In this article, we would like to share our comprehensive macro-structural analysis explaining why long yields rise despite direct liquidity injections. The central thesis demonstrates that Treasury buybacks operate as microstructural operations — focused primarily on market liquidity, off-the-run security adjustments, and cash management—rather than aggregate macroeconomic quantitative easing (QE). When structural macro forces dominate, long-term bond

On September 9, two very different cash stories were unfolding on opposite sides of the world. In Singapore, more than 2.4 million adult citizens began receiving S$400 to S$600 under the enhanced Budget 2026 Cost-of-Living Special Payment. In the U.S., President Donald Trump proposed a much larger US$5,000 “dividend” for every adult U.S. citizen if Republicans retain both the House and Senate in the midterm elections. At first glance, both stories are about governments putting money into consumers’ pockets. For investors, however, they represent very different market forces: Singapore’s payouts are targeted household support, while the U.S. proposal could become a trillion-dollar-scale fiscal event. In Singapore, the Money Is Already Arriving The Singapore payout is already underway. Eligi

Gold has swung wildly over the past year. It climbed to over $5,500 per ounce earlier this year, then dropped after February, and now trades around $4,500. Gold has rebounded over the past month. It rose from roughly $4,000 per ounce to a peak above $4,600. Gold has regained market attention. The prospect of a US-Iran deal pushed gold sharply higher. Later, the US Treasury’s bond buyback plan and hawkish comments from the Fed Chair weighed on prices. Mixed US jobs data also kept gold swinging up and down. The big question now: Is this only a temporary bounce within a downtrend, or a new bullish reversal? This is the biggest debate in the market. Two groups hold opposite views on this rally. Some investors argue US-Iran tensions are not fully resolved. US bond yields stay high, and rate hik

Bloom Energy has quietly turned into one of the hottest AI infrastructure trades in the market.The Pelosi family bought into the stock during a sharp pullback in late July. Tiger investors were there too. Congrats to @美股投资雷达, whose BE call position is up 144% Congrats to @JesseC, who made US$6,352 trading BE calls Pelosi bought during the pullback Public disclosures show the Pelosi family bought Bloom Energy between July 24 and July 28. The purchases included 15,000 shares of BE and two blocks of 100 call options with a US$100 strike price and a June 17, 2027 expiration. The positions were disclosed under Paul Pelosi. The timing caught plenty of attention. BE had just gone through