Treasury Dept making no significant progress towards their goal of reducing this account balance to $800B by end March....
This week:
Last week:
Same balance. Usually... when you want an account balance to reduce you have to withdraw MORE than you deposit... usually... except for morons... in the mean time, there remains almost $1.4T of short term US Treasury security account balances in USD system that nobody wants or needs...
2 comments:
But isn't that a good thing matt? If they were to reduce that balance by almost 600b in a month, which you explained is the same as adding 600b to depositaries, wouldn't that cause another mini correction in risk assets?
imo yes probably... it’s going to happen eventually so they should just get it over with already... this is like death by 1,000 cuts...
But it is also making interest rates higher (1.5T treasuries MORE than “the deficit!” issued) and that effects mortgage rates consumer rates etc... and their stated policy is for LOWER rates...
iow these morons are retarding risk asset values at Depositories AND increasing interest rates thru their idiot policies here...
They should all be canned ....
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