Posted by johnny2012 on 2nd of Nov 2023 at 08:45 am
Steve, can you expand on the liquidity tied to the bull issuance
Vs bonds/notes from your post yesterday please? Just trying to
understand more. Obviously market likes it. We are probably gapping
up out of those supply zones for the indexes today if futures
hold.
As always, your and Matt's analysis of the market is greatly
appreciated.
Quick answer is Yellen set off the firestorm yesterday as the
treasury shifted issuances towards bills from coupons (quarterly
refunding also announced less supply to be issued). TBills
are funded out of the RRP (new low ) versus bank reserves.
QRA
Kicking the can so to say - will cover more tonight.
Steve, can you expand on
Posted by johnny2012 on 2nd of Nov 2023 at 08:45 am
Steve, can you expand on the liquidity tied to the bull issuance Vs bonds/notes from your post yesterday please? Just trying to understand more. Obviously market likes it. We are probably gapping up out of those supply zones for the indexes today if futures hold.
As always, your and Matt's analysis of the market is greatly appreciated.
Quick answer is Yellen set
Posted by steve on 2nd of Nov 2023 at 09:00 am
Quick answer is Yellen set off the firestorm yesterday as the treasury shifted issuances towards bills from coupons (quarterly refunding also announced less supply to be issued). TBills are funded out of the RRP (new low ) versus bank reserves. QRA
Kicking the can so to say - will cover more tonight.
Andy Constan Clip
Thanks Steve.
Posted by johnny2012 on 2nd of Nov 2023 at 09:06 am
Thanks Steve.