According to @BullTheoryio, the U.S. Treasury conducted a $12.5 billion buyback of its own debt, described by the source as the largest such buyback in its history, which the source indicates tends to push bond yields lower and ease financial conditions. According to @BullTheoryio, the Federal Reserve is also starting T-bill purchases today, which the source says will add liquidity to the system and support risk assets. According to @BullTheoryio, the main immediate risk is the Bank of Japan interest rate decision; if no rate hike occurs, the source expects this backdrop to potentially trigger a crypto Santa rally, providing tailwinds for BTC and ETH.