steven
StevenMcClurg

CEO of Canary Capital
Partner at Clutch Mining #Bitcoin

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Last Notes

2023-04-02 20:07:23 UTC

There is a lot of talk about volcano bonds again recently.
Who doesn't want to pay $100 and receive a fixed amount of BTC every year for X years + receive todays BTC back after X years at tomorrow's value?
The issue is the other side of that trade...
If a country borrowed 1 BTC today to cover $30k with of costs, but was required to pay .05 BTC every year for 10 years, then required to pay back the 1 BTC.
If BTC goes higher in dollar terms, it would bankrupt a country...

2023-02-20 01:55:06 UTC

- reply

I expect Fed to raise to at least 5.5% before a pause, with no reverse course this year. Inflation will remain elevated

2023-02-20 01:48:55 UTC

- reply

Smart money sells treasuries like this if expectation that yields are going much higher. Right now risk markets expect Fed to slow down then pivot this year.
Bonds tell a different story.
Sell ahead of rising yields, buy back when Fed is done.

2023-02-19 15:52:05 UTC

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