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Below are some of the most interesting articles, quotes and charts I came across this week. Click here to subscribe to our free weekly newsletter and get this post delivered to your inbox each Saturday morning.

This week, yet another legendary hedge fund manager added his voice to the growing chorus of those warning of a debt crisis.

As Paul Tudor Jones explains, it’s not a difficult concept to grasp; it really just comes down to the growing divide between the supply and demand for treasuries.

When rising interest rates (driven by both demand failing to keep pace with supply and rising inflation) meet rapidly rising debt issuance (which is in itself inflationary), you start to get all sorts of feedback loops.

For now, stocks are trying to pretend interest rates will soon revert to their pre-pandemic trend but, given the dynamics above, that may be wishful thinking.

Speaking of wishful thinking, that is probably a good characterization of the monetary policy that helped to lay the foundations for these deleterious trends in the first place.

Thanks for reading and have a great weekend.