🐋 WHALE WATCH : $24 BILLION in debt buybacks this month. The U.S. Treasury is stepping in hard, starting with a massive chunk this Thursday on 10 20 year bonds plus more on the way including 20 30s on October 27. Add in the 20 year yield flipping above the 30 year at 5.58% and Wall Street is bracing for major auction cuts ahead. Macro is shifting. Keep your eyes on the liquidity flows.