No single ticker was named. Rates & bonds ETFs are the exposure this bearish thesis argues against, most actionable for readers who already hold them. Not a recommendation.

Treasury supply-demand imbalance sustains higher term premia

The case was made that a geopolitically driven supply-demand imbalance in the Treasury market, with price-insensitive buyers (foreign central banks, the Fed) being replaced by price-sensitive buyers, will sustain a structural uptrend in term premia.