Part 6/19:
He emphasizes that over the past six months, the global bond landscape has shifted dramatically. For decades, the U.S. has enjoyed robust confidence as a creditor and the dollar's status as the world’s reserve currency. Today, that confidence erodes as worldwide allocators hedge their dollar exposure, favoring assets in Australia, Korea, Bitcoin, and physical commodities. This shift is driven partly by political instability and fiscal mismanagement, which undermine the traditional safety of U.S. Treasuries.