Is the extended cycle in the room with us rn Raoul? 😭Raoul Pal (@RaoulGMI):The weighted average maturity of US gov debt extended from 4 years to 5 years from 2022. That increases the chance that the liquidity cycle and the business cycle have extended too. Our lead indicator work at GMI suggests the same using our GMI Fin Conditions Index. Let's see.. ...