Still lingering effects of "debt ceiling!" now causing a sudden collapse in Reserve Assets as Treasury seeks to quickly increase the General Account to $350b...
Treasury could have done a better job in August post the suspension of the "debt ceiling!" ... by increasing net issuance sooner and more evenly on a weekly basis... instead these morons have delivered EVEN MORE chaos... and have had to do a special repo operation for some institutions that apparently have become deficient in reserve balances they need to operate...
Snip from Mike below documenting yesterday's sudden TGA increase (thus reserve reduction) of $83b...
Idiots running the thing...