Vishnu Varathan from Mizuho Bank speaks about the impacts of the recent FOMC minutes, which revealed a split between members wanting to hike rates and those preferring to wait for more inflation data. However, markets paid more attention to the US Treasury’s announcement of increased buybacks of long-term bonds, which helped lower yields and boosted equities and gold. He explains that while this move provides short-term relief and benefits equities, it raises concerns about long-term debt sustainability and the potential weakening of the US dollar.

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