Lacy Hunt, chief economist at Hoisington Investment Management, reversed his bullish stance on long-term US Treasurys after three decades, in a report dated July 16. The firm now expects long-run inflation to settle between 3.5% and 4.5%, contradicting its previous deflationary thesis. Hoisington slashed its effective portfolio duration from approximately 21 years in September 2025 to below one year, while assets under management shrank from $5 billion to under $2 billion. This capitulation by a legendary bond market figure signals a fundamental shift for all risk assets, including cryptocurrencies.
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