Lee AdlerPrior to the onset of QE in 2009, a normal reserve position meant tight reserves. There were virtually no excess reserves on the Fed’s balance…
The media had been excusing the stock market decline, and explaining the bond market rally in December by saying that investors were worried about slowing…
Treasury demand trends have looked bullish in the short run, but they’re just laying the seeds of that, “Bullish? Not so much!” hangover.