i also wrote a thread explaining the importance of USD-denominated government debt for short-term funding/credit markets

remember that most of credit is issued to refinance existing debt and not for new financing

you can read it here:
https://illya.sh/threads/@1751726431-1

Illya Gerasymchuk 2025-08-11 21:08

i wrote about how reverse repurchase agreements work and their importance in the global financial system in this thread:
https://illya.sh/threads/@1751561045-2