Blockworks Macro, Released on 7/23/24

00:00 Introduction
01:18 What Is “Activist Treasury Issuance” (ATI)?
08:00 The Mechanics Of How The U.S. Treasury Has Altered Engaged In “Activist Treasury Issuance”
20:52 VanEck Ad
24:21 Activist Treasury Issuance Played A Role In Boosting Asset Values, And In Avoiding A Recession (And Might Have Caused A “No Landing” Instead of a “Soft Landing”)
29:53 History of Treasury’s “Bill Share”: GFC, Money Market Reform, March 2020 Panic
33:44 How Much Does Current Treasury Issuance Differ From Historical Issuance Patterns?
45:43 Permissionless Ad
46:46 Does Government Borrowing “Crowd Out” Private Investment?
59:09 Will ATI Continue In The Next Presidential Administration?
01:07:20 Long-Term Interest Rates Could Rise and Force a “Meaningful Repricing of Risk Assets”
01:10:49 It’s Not Just The Fed – U.S. Treasury Has “Forward Guidance” Now Too
01:13:02 Nouriel Roubini’s Closing Thoughts

Nouriel Roubini is the CEO at Roubini Macro Associates, a professor at NYU’s Stern School of Business, and Chairman of Roubini Global Economics. He was Senior Economist for International Affairs in the White House’s Council of Economic Advisers during the Clinton Administration. He has worked for the International Monetary Fund, the US Federal Reserve, and the World Bank. His latest book is MegaThreats: Ten Dangerous Trends That Imperil Our Future, And How to Survive Them.

  economy, investing, nouriel roubini