Why the house doesn’t always win

Podcast: The Living Market Podcast · IG Wealth Management

Opublikowano: 2026-09-11

When U.S. Treasury Secretary Scott Bessent said "I am the house," Philip Petursson, Chief Investment Strategist at IG Wealth Management, took issue with the comparison. A casino is the house because the math structurally favours it. The U.S. Treasury is something else entirely: issuer, debtor, refinancing agent, regulator and occasional buyer, all at once. And at the end of every one of those roles sits the same requirement: roughly $30 trillion of government debt has to live on somebody else's balance sheet. Philip explains why the Treasury needs the market far more than the market needs the Treasury...