Is this correction the beginning of something larger to come?
Monetary policy can be implemented through outright purchases or sales of securities, which permanently changes the size of the Federal Reserve’s System Open Market Account (SOMA) portfolio.
We knew that Not QE would fall well shy of Treasury issuance in February, and that that would be a problem for the markets. Subscribers,…
All things being equal…this rally has been terrible.
As empty streets and shelves attest, people taking charge of risk has dire economic consequences.How many cases of Covid-19 in your community will it take for you to decide not to frequent public places such as cafes, restaurants, theate…
New York | The rally in risk-free bonds is quickly rendering irrelevant the policy direction of the Federal Open Market Committee. We’ve talked in past…
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How much pain are they willing or can they afford to take? The answer: Virtually none.
Monetary policy can be implemented through outright purchases or sales of securities, which permanently changes the size of the Federal Reserve’s System Open Market Account (SOMA) portfolio.
As is usual whenever central bankers get creative, it doesn’t take them long to pat themselves on the back.