Uploaded September 2026 | Updated September 2026, 3 weeks ago

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Andreas Steno explains why Scott Bessent’s recent moves in the US Treasury market could be far more important than investors realize. As foreign demand for US government debt becomes harder to secure, hedge funds are increasingly emerging as the marginal buyer — fundamentally changing how Treasury debt is absorbed. What started as a “nothing burger” may now be becoming a major macro story.

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