Economist Daniel Lacalle says shifts in U.S. Treasury issuance and Fed timing are fueling a market manipulation debate. He points to heavier bill issuance, long

Economist Daniel Lacalle says shifts in U.S. Treasury issuance and Fed timing are fueling a market manipulation debate. He points to heavier bill issuance, long-bond buybacks and delayed QT and rate cuts—moves once largely accepted, now under scrutiny.