US Treasury bought back $2B long-term debt July 19 as M2 money supply hits record highs, building liquidity without QE.

According to The Kobeissi Letter, the US government is facing a financial challenge as maturing debt coincides with rising interest rates, leading to increased debt servicing costs. The average interest rate on $36.2 trillion of Treasury debt has reached 3.2%, the highest since 2010. This situation suggests a potential need for rate cuts to alleviate financial pressures.