Market Updates · 5 June 2025 · 2 min read Members

06/05/2025 Market Update

The rally off April's tariff selloff approaches a pivot point, with the June tax drain ahead, bank credit accelerating, the bond market and dollar sliding, and a jobs report and CPI print due to weigh in.

Douglas · Market Updates

Individual & up

This one’s for Individual subscribers

Individual gets the full AppliedMMT newsletter, every market update, the dashboards, the Discord, and the complete archive. The free updates stay free.

The AppliedMMT newsletter & full market updates
The dashboard suite & the full model layer
Subscriber Discord community
Full archive of past research

Subscribe · $129/mo Get the free newsletter

Already subscribe? Sign in.

More research

Sep 1

The Only Way Treasury Gets Lower Rates Without the Fed

Bessent wants lower long-term rates without the Fed. The TGA build, the doubled buybacks -- none of it will work, and the one fiscal lever that does is the one nobody in this administration will name. Free Aug 27

08/27/2026 Market Update: The Bessent Buyback Mirage, and Why Mid-September Is the Brittle Zone

The Bessent buyback treated as a mirage: the TGA mechanics, the one lever that would actually bring rates down, and why nobody in Washington will pull it. Also flagged — a mid-September brittle zone, and a rare disagreement with DeepMMT. Members Aug 26

Addressing the WSJ's Latest MMT Hit Piece

The WSJ blames MMT for the pandemic inflation. Their tax arithmetic is right, their description of MMT isn't, and their causal chain runs backwards. Free