Thoughtful Money with Adam Taggart · Thursday, August 27, 2026
Michael Every predicts that stablecoins could be aggressively pushed out by 2027, potentially coinciding with new legislation like the Clarity Act. He posits that the widespread adoption of stablecoins, particularly in emerging markets, would necessitate stablecoin issuers buying Treasury bills, thus shifting US debt issuance to the short end of the curve.
“Which means that you can probably expect stable coins to be pushing out aggressively by 2027 at the latest.”
“So in other words, we are going to shift US issuance to the short end of the curve, just as we're going to create an artificial bump for a lot of T-bills, which, to frank, isn't that big in terms of the US deficit, they keep being run, but temporarily at least, is going to make sure that you don't get too upward pressure at the short end there.”