According to @RobinBrooksIIF, FX-hedged US Treasury yields for major foreign investors from Europe and Japan are now mostly below zero, making US Treasuries unattractive compared to domestic government bonds (source: Twitter/@RobinBrooksIIF, June 2024). This dynamic contributes to the subdued demand for US Treasuries, which is significant for crypto traders as reduced international capital flows into US government debt can heighten volatility in the dollar and potentially drive risk-on sentiment in Bitcoin and other cryptocurrencies. Monitoring global bond flows and yield spreads is essential for anticipating swings in crypto market liquidity and investor behavior.