Thanks for the article. Extremely informative , however I had a little bit of difficulty understanding the treasury part.I will give this a read again to get around it.
"The Treasury has chosen to reduce issuance significantly, thereby further limiting liquidity growth" ... When the Treasury ISSUES securities (bills/notes/bonds), they are REMOVING liquidity from the system (i.e. they give you a piece of paper and take your cash). So issuing LESS would be removing LESS liquidity, no?
IMO one of the greatest sources (besides Darius Dale) for putting the macro environment into regimes.
Thanks for the article. Extremely informative , however I had a little bit of difficulty understanding the treasury part.I will give this a read again to get around it.
"The Treasury has chosen to reduce issuance significantly, thereby further limiting liquidity growth" ... When the Treasury ISSUES securities (bills/notes/bonds), they are REMOVING liquidity from the system (i.e. they give you a piece of paper and take your cash). So issuing LESS would be removing LESS liquidity, no?