The Bond Market's Quiet Liquidity Crisis

Episode 55 of The Bond Market Podcast with Fexingo dives into the hidden liquidity crisis gripping Treasury markets as of June 2026. Lucas and Luna anchor the discussion on the 5-year note yield at 4.19%, with the 10-year at 4.47% and the 30-year near 4.97%. They explore how regulatory changes, specifically the CFTC's recent approval of perpetual futures ('perps'), are reshaping dealer balance sheets and market depth. The hosts explain why even modest moves in yields now trigger outsized price swings, what the 10-year/2-year spread of 0.40 tells us about liquidity conditions, and how the new 'perps' market in the US might drain liquidity from traditional Treasuries. A concrete example: the IEF ETF's 0.5% weekly gain despite flat economic data. Listeners learn why the bond market's plumbing matters more than Fed rate moves right now. No ads, listener-supported: buy me a coffee dot com slash fexingo. #BondMarket #TreasuryLiquidity #10YearYield #5YearNote #30YearYield #YieldCurve #CFTC #PerpetualFutures #MarketDepth #FixedIncome #IEF #TLT #BondVolatility #LiquidityCrisis #FexingoBusiness #BusinessPodcast #Economics #WallStreet Keep every episode free: buymeacoffee.com/fexingo