Dowd: Lower Yields Are Coming… And Nobody Will Like Why
On August 19th the Treasury announced it would increase the size of its nominal long-end liquidity support buybacks beginning September 9. The long end yields declined on the headline. Cue the usual chorus of X hot takes: stealth QE, yield-curve control lite, money printing etc. The reality is much less bombastic…it is mostly a jawboning …
Dowd: Lower Yields Are Coming… And Nobody Will Like Why Read More »