Mind you, this is all before “yield curve control” has been implemented! What a joke. And when it’s not the fed, it’s (increasingly) just financial institution

Mind you, this is all before “yield curve control” has been implemented! What a joke. And when it’s not the fed, it’s (increasingly) just financial institutions buying their required allotments. We’re well on the path to a market like Japan, where nobody in their right mind actually goes out and invests in bonds, they just are required by law to have a certain amount on their balance sheets. This is why SLR is a big deal and if the fed does or doesn’t address it tomorrow, you can expect real chaos.