Visser Sounds Alarm: Betting Against Treasury Intervention 'Very Dangerous Game'

Veteran macro investor Jordi Visser is cautioning against betting against government efforts to contain Treasury yields, calling it 'a very, very, very dangerous game.'

He points out that governments are increasingly willing to intervene in markets to keep borrowing costs in check, citing the recent decision by Treasury Secretary Scott Bessent to double long-end buyback capacity.

'They're saying they don't want yields to go higher because we have a debt and deficit problem,' Visser said. 'He's leaning on the Fed because you see multiple storyboards going on, you have to be careful.'

Visser also notes that AI is intensifying competition and making traditional growth and valuation models less trustworthy, adding that crypto is minor compared to traditional equities markets but might grow much quicker since it would provide the financial 'guardrails' for the new AI-driven economy.

He's particularly bullish on Bitcoin, saying it might become the leading store of value in the digital economy, and also sees an upside for Ethereum, thinking it could outperform because the investment thesis is more about the ecosystem and applications being built around crypto.