Uploaded August 2026 | Updated September 2026, 2 weeks ago
Long dated Treasuries rallied in every crisis since 2000, but the United States has never entered one with debt near 99% of GDP.
David Scutt, Senior Market Analyst for Global Macro at StoneX Media, walks through the yield declines of past crises and what larger Treasury buybacks revealed about demand at the long end.
The 10 year U.S. Treasury yield fell sharply through the tech wreck, the Global Financial Crisis and the pandemic, and the 30 year followed it lower each time. What changed is the starting point, with United States debt held by the public near 99% of GDP, the federal deficit close to 6% of GDP before any recession, and federal debt topping $40 trillion in the same week the US dollar stayed weak.
Discover Actionable Insights with the latest Market Outlook Reports: intel.stonex.com/offer?language=en&campaignId=A908C315-DC62-4F35-AC16-870BB71E84D1&utm_source=youtube&utm_medium=social&utm_campaign=sxtv_guest_david_scutt&utm_content=share
0:00 The Crisis Reflex in Question
0:29 Every Past Crisis Bid Held
1:20 US Debt Nears 99% of GDP Now
2:24 Buybacks Fail to Hold Yields
2:48 Precious Metals Absorb Doubt
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#StoneX #Treasuries #DavidScutt #Gold
*CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Capital at risk.
Long dated Treasuries rallied in every crisis since 2000, but the United States has never entered one with debt near 99% of GDP.
David Scutt, Senior Market Analyst for Global Macro at StoneX Media, walks through the yield declines of past crises and what larger Treasury buybacks revealed about demand at the long end.
The 10 year U.S. Treasury yield fell sharply through the tech wreck, the Global Financial Crisis and the pandemic, and the 30 year followed it lower each time. What changed is the starting point, with United States debt held by the public near 99% of GDP, the federal deficit close to 6% of GDP before any recession, and federal debt topping $40 trillion in the same week the US dollar stayed weak.
Discover Actionable Insights with the latest Market Outlook Reports: intel.stonex.com/offer?language=en&campaignId=A908C315-DC62-4F35-AC16-870BB71E84D1&utm_source=youtube&utm_medium=social&utm_campaign=sxtv_guest_david_scutt&utm_content=share
0:00 The Crisis Reflex in Question
0:29 Every Past Crisis Bid Held
1:20 US Debt Nears 99% of GDP Now
2:24 Buybacks Fail to Hold Yields
2:48 Precious Metals Absorb Doubt
Like and subscribe for more financial market insights.
#StoneX #Treasuries #DavidScutt #Gold
*CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Capital at risk.
