[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.] #  @jstatistic Jay Kahn Jay Kahn is highlighting discrepancies in financial data reporting, specifically regarding hedge fund holdings of US Treasuries and their impact on national accounts. He suggests that underreporting of Cayman Islands Treasury holdings, associated with hedge funds, is causing a gap in data. This underreporting is linked to the use of sponsored repo and borrowing against Treasuries in the repo market. ### Engagements: XXXXX [#](/creator/twitter::2824317280/interactions)  - X Week XXXXXX +12,696% - X Month XXXXXX +254% - X Months XXXXXXX +216% - X Year XXXXXXX +42% ### Mentions: X [#](/creator/twitter::2824317280/posts_active)  - X Week X +800% - X Month XX +57% - X Months XX +46% - X Year XX +465% ### Followers: XXXXX [#](/creator/twitter::2824317280/followers)  - X Month XXXXX +9.30% - X Months XXXXX +51% - X Year XXXXX +61% ### CreatorRank: XXXXXXX [#](/creator/twitter::2824317280/influencer_rank)  ### Social Influence [#](/creator/twitter::2824317280/influence) --- **Social category influence** [countries](/list/countries) [finance](/list/finance) **Social topic influence** [cayman islands](/topic/cayman-islands) #7, [positions](/topic/positions) #206, [buildup](/topic/buildup), [accounting](/topic/accounting), [china](/topic/china), [japan](/topic/japan) ### Top Social Posts [#](/creator/twitter::2824317280/posts) --- Top posts by engagements in the last XX hours "In a new note we demonstrate that the massive buildup in hedge fund Treasury positions in the past decade has had substantial effects on the national accounts data. This is due to underreporting to TIC of Cayman Islands Treasury holdings associated with these hedge funds" [X Link](https://x.com/jstatistic/status/1978502043003129925) [@jstatistic](/creator/x/jstatistic) 2025-10-15T16:43Z 1951 followers, 106.3K engagements "After accounting for these hedge fund holdings the Cayman Islands is the largest holder of Treasuries supplanting China and Japan. But it also has effects elsewhere in the national accounts" [X Link](https://x.com/jstatistic/status/1978502046102765584) [@jstatistic](/creator/x/jstatistic) 2025-10-15T16:43Z 1951 followers, 4968 engagements "A few people have known there was a substantial gap in the household and TIC data from hedge funds for a while what I think is most interesting is the reason. It's all about repo and it's associated with *another* gap in the financial accounts people haven't looked at" [X Link](https://x.com/jstatistic/status/1978795075778871303) [@jstatistic](/creator/x/jstatistic) 2025-10-16T12:08Z 1944 followers, 1197 engagements "Our best guess is that the reason there is a gap is because the Treasuries owned by hedge funds are borrowed against in the repo market and custodians surveyed by TIC are wrongly attributing them to the U.S.-based repo lender" [X Link](https://x.com/jstatistic/status/1978795078509359571) [@jstatistic](/creator/x/jstatistic) 2025-10-16T12:08Z 1943 followers, XX engagements "This would imply that the gap would be filled by repo claims on Cayman Islands reported in another TIC form (which we can't show). BUT: there's ANOTHER gap here A substantial portion of the repo funding of the trade is also not reported" [X Link](https://x.com/jstatistic/status/1978795081118195936) [@jstatistic](/creator/x/jstatistic) 2025-10-16T12:08Z 1944 followers, XX engagements "It seems funding for the trade through sponsored repo is also *not being recorded* in TIC. This could make sense: For the dealer in these trades the nominal counterparty is FICC - a U.S. institution. Meanwhile FICC views these as *guarantees* rather than actual repos" [X Link](https://x.com/jstatistic/status/1978795083727081502) [@jstatistic](/creator/x/jstatistic) 2025-10-16T12:08Z 1943 followers, XXX engagements "This is an additional problem for Z1 Lending for the trade goes MMFs - dealers - HFs. MMF leg of the trade is captured in Z1 through N-MFP. But the hedge fund side that should show up through TIC is missing So we get a discrepancy between total repo and reverse repo" [X Link](https://x.com/jstatistic/status/1978795086663032906) [@jstatistic](/creator/x/jstatistic) 2025-10-16T12:08Z 1944 followers, XXX engagements
[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]
@jstatistic Jay Kahn
Jay Kahn is highlighting discrepancies in financial data reporting, specifically regarding hedge fund holdings of US Treasuries and their impact on national accounts. He suggests that underreporting of Cayman Islands Treasury holdings, associated with hedge funds, is causing a gap in data. This underreporting is linked to the use of sponsored repo and borrowing against Treasuries in the repo market.
Engagements: XXXXX #
- X Week XXXXXX +12,696%
- X Month XXXXXX +254%
- X Months XXXXXXX +216%
- X Year XXXXXXX +42%
Mentions: X #
- X Week X +800%
- X Month XX +57%
- X Months XX +46%
- X Year XX +465%
Followers: XXXXX #
- X Month XXXXX +9.30%
- X Months XXXXX +51%
- X Year XXXXX +61%
CreatorRank: XXXXXXX #
Social Influence #
Social category influence countries finance
Social topic influence cayman islands #7, positions #206, buildup, accounting, china, japan
Top Social Posts #
Top posts by engagements in the last XX hours
"In a new note we demonstrate that the massive buildup in hedge fund Treasury positions in the past decade has had substantial effects on the national accounts data. This is due to underreporting to TIC of Cayman Islands Treasury holdings associated with these hedge funds"
X Link @jstatistic 2025-10-15T16:43Z 1951 followers, 106.3K engagements
"After accounting for these hedge fund holdings the Cayman Islands is the largest holder of Treasuries supplanting China and Japan. But it also has effects elsewhere in the national accounts"
X Link @jstatistic 2025-10-15T16:43Z 1951 followers, 4968 engagements
"A few people have known there was a substantial gap in the household and TIC data from hedge funds for a while what I think is most interesting is the reason. It's all about repo and it's associated with another gap in the financial accounts people haven't looked at"
X Link @jstatistic 2025-10-16T12:08Z 1944 followers, 1197 engagements
"Our best guess is that the reason there is a gap is because the Treasuries owned by hedge funds are borrowed against in the repo market and custodians surveyed by TIC are wrongly attributing them to the U.S.-based repo lender"
X Link @jstatistic 2025-10-16T12:08Z 1943 followers, XX engagements
"This would imply that the gap would be filled by repo claims on Cayman Islands reported in another TIC form (which we can't show). BUT: there's ANOTHER gap here A substantial portion of the repo funding of the trade is also not reported"
X Link @jstatistic 2025-10-16T12:08Z 1944 followers, XX engagements
"It seems funding for the trade through sponsored repo is also not being recorded in TIC. This could make sense: For the dealer in these trades the nominal counterparty is FICC - a U.S. institution. Meanwhile FICC views these as guarantees rather than actual repos"
X Link @jstatistic 2025-10-16T12:08Z 1943 followers, XXX engagements
"This is an additional problem for Z1 Lending for the trade goes MMFs - dealers - HFs. MMF leg of the trade is captured in Z1 through N-MFP. But the hedge fund side that should show up through TIC is missing So we get a discrepancy between total repo and reverse repo"
X Link @jstatistic 2025-10-16T12:08Z 1944 followers, XXX engagements