Marc Arjoon, CFA 🟪(@marcarjoon):Investors are being paid to sit in duration and are rotating toward assets that either compound earnings or lock in yield. That leaves the liquidity-sensitive, non-yielding cohort (gold and BTC) competing for a shrinking pool of marginal capital, and the flow data confirms they are losing that competition.

Marc Arjoon, CFA 🟪

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Marc Arjoon, CFA 🟪@marcarjoon

2026.07.07 12:43

Investors are being paid to sit in duration and are rotating toward assets that either compound earnings or lock in yield. That leaves the liquidity-sensitive, non-yielding cohort (gold and BTC) competing for a shrinking pool of marginal capital, and the flow data confirms they are losing that competition.