It’s very much not being argued that the increase is due up speculative wall st bets. The bis report quite clearly points out that the vast majority of the swa

It’s very much not being argued that the increase is due up speculative wall st bets. The bis report quite clearly points out that the vast majority of the swaps market dollar obligations are outside of the us and nothing about the report suggests it’s due to speculation. Rather it’s about the central bank policy issues with the way the swaps are accounted for and their short term nature.