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Andy Constan, founder and strategist at Damped Spring Macro, questions why the U.S. Treasury is considering reducing sales of government bonds despite their relative outperformance versus other developed market sovereign debt.
Constan suggests that if U.S. Treasurys are showing notable strength, policymakers should consider capitalizing on this advantage, rather than pulling back on issuance.
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Constan previously refuted inaccurate reporting on Oracle's $7.5 billion share sale, clarifying the related SEC filing process in an earlier note. He has also warned that expectations for SPX earnings may be unsustainable, citing limited GDP growth and the necessity for significant capital issuance in a separate analysis. These comments illustrate his focus on accurate market disclosures and the risks associated with financing trends.