In case you thought anybody in Washington was driving this thing, they are not. It’s official: the Department of Treasury is now issuing debt at pandemic levels. It’s worth noting the pandemic record was double the […]
Reserves, Domestic ON RRPs, Currency in Circulation, the TGA, and official foreign RRPs determine how far QT can go. By Wolf Richter for WOLF STREET. The Fed has been talking a lot about its liabilities recently, including Powell […]
From mid-October through the end of January, the 6-month Treasury yield had dropped by about 43 basis points, from around 5.58% to 5.15% (green box in the chart below). This means roughly, that at the […]
Authored by Michael Maharrey via SchiffGold.com, Interest rate hikes get most of the attention as the Federal Reserve fights inflation, but balance sheet reduction is arguably more important. And it’s not going well. Since […]
Yesterday we said that “with all the focus on the Fed tomorrow, it will be delightful(ly ironic) if the Treasury steals the show with a TSY buyback announcement during the 8:30am refunding announcement.” Of course, […]
Copyright © 2026 | Sandstone Group