$BTC 🚨🚨 Global governments are aggressively moving toward short-term borrowing 📢📢
The average maturity of world government bonds has declined to 8.8 years, the lowest since 2014 ⚡️
The average maturity has declined by -1.5 years since 2021 as countries are relying more heavily on bills to fund widening deficits ⚡️
This shift has been particularly driven by the UK, Japan, and the US, which have reduced long-dated bond issuance as demand has weakened 📢
The UK has cut sales of long-term bonds to an all-time low this year, while Japan is boosting short-term borrowing after a steep drop in appetite for its super-long bonds 📢
Furthermore, the Bank of England and Bank of Japan are continuing their quantitative tightening programs (QT), effectively reducing holdings of long-term debt 📢
Overall, these strategies leave governments far more exposed to short-term rate volatility, potentially driving interest costs higher if central banks raise rates ⚡️📢
Government borrowing is out of control ⚡️📢
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