HAYES CALLS THE BUYBACK A BULL HORN — $110,000 “IN WEEKS,” MAXIMUM RISK ON

Arthur Hayes says the Treasury’s buyback doubling — $38 billion in liquidity-support purchases running through November 4 — pins long yields down and pushes capital into risk. The 10-year fell to 4.65%, the 30-year toward 5.20%; about $517 million in Bitcoin ETF inflows landed the same day. Hayes says his fund is at “maximum risk” and floats $110,000 in the coming weeks, $200,000 longer out. The Maximalist read: when the issuer of the dollar has to buy its own paper to keep it bid, you do not need a price target — you need your keys. The number is downstream of the printer.