No one is buying U.S. Treasuries; Japan is not buying, China is not buying, the UK is not buying. This is the trend;

However, the world of blockchain will buy, and it is not surprising that stablecoin issuers will become the largest holders of U.S. Treasuries in the next three years;

U.S. Treasuries remain the most stable asset in the world;

Moving forward, there are only positive factors, and there are not many negative factors; factors like the Fed's pivot to QE, tax reduction bills, and expectations for interest rate cuts in July are all positive; the only uncertainty is whether U.S.-China relations will change again;

Recently, some observers believe that institutions are performing negatively in the U.S. stock market, mainly due to retail investors contributing to the buying; their conclusion is that it is a trap... They only see institutions acting negatively but do not understand why retail investors are positive, or where retail investors are getting their positive capital. Those who hold this view are bound to fail.