It’s no surprise that 🇮🇷💥 happened in June, when around $6T in USTs needed to be refinanced.

This time, however, USD Index did not substantially strengthen, indicating no major capital flows back to 🇺🇸.

If capital inflow < war expenditure, 🇺🇸 is losing the financial war.

— asdf1234 (@asdf12390675307) June 22, 2025