Every Fake Guru on this platform who thought Janet would pump this QRA and spend down the TGA has been proven wrong.  Everyone who thinks they can cut coupons now sees what a huge problem our increasing deficit is for issuance.  Lastly my estimate is now 44% bills.  If your furu thinks high bills issuance is bullish get a new FURU.  Markets should be under serious pressure for the next 3 months

Bigger deficit more bills today means more coupons in the future. Plus same or more coupons today.